RBNZ monetary policy meeting this week - preview. Jumbo cut and wait.

Author: Eamonn Sheridan | Category: Central Banks

The Reserve Bank of New Zealand  decision is due at 0200GMT on Wednesday 23 September 2019 

  • Expectations are for on hold (unanimous so according the Bloomberg survey)
A what to expect via Westpac:
  • We think the RBNZ will want to keep the OCR on hold and assess its previous action. 
  • The whole point of the RBNZ's jumbo-sized cut in August was to get ahead of the game. 
  • The RBNZ will probably use language about the "possibility" of a future cut rather than giving an overt signal of imminent easing. 
  • The domestic economy is shaping up weaker than the RBNZ's previous forecast; but offsetting that, the exchange rate is lower.
RBNZ Gov. Orr. A man of action. Often confused with Chuck Norris. They do look alike though don't you think?
The Reserve Bank of New Zealand  decision is due at 0200GMT on Wednesday 23 September 2019 

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Not a preview, from earlier:

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