RBNZ monetary policy meeting this week - brief preview

Author: Eamonn Sheridan | Category: Central Banks

The Reserve Bank of New Zealand announcement is due at 0200 GMT on April 14

  • there will be no update to forecasts 
  • there will be no press conference
No change to the cash rate is expected (currently at 0.25%).
  • Similarly, on other policy settings, no change is expected: FLP and LSAP programmes are most likely to remain largely untouched
Earlier preview is here

Via BNZ, this in summary:
  • we expect the RBNZ to maintain its monetary policy settings (including its LSAP bond buying limit at $100b) and stick to its cautious rhetoric
  • Since the February MPS, Q4 GDP undershot the RBNZ's forecast by 1% and the government's March 23rd housing policy announcement is expected to dampen the housing market. On the other side of the ledger, inflationary pressures are picking up as well as expectations for global growth. 
  • On net, we think the balance probably hasn't moved too much and the RBNZ will remain in 'watch, worry and wait' mode.
RBNZ Gov Orr:
The Reserve Bank of New Zealand announcement is due at 0200 GMT on April 14
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