RBNZ monetary policy review due Wednesday 14 April 2021 - preview

Author: Eamonn Sheridan | Category: Central Banks

The Reserve Bank of New Zealand announce,ent 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 ANZ, this in summary:
  • We expect the RBNZ to leave the OCR at 0.25% and do not expect any changes to the overall size, duration and general terms of the FLP and LSAP programmes
  • RBNZ is likely to play with a straight bat, reiterating its "wait and see" and "least regrets" approaches to policy
  • data-flow is starting to soften, but this is consistent with the RBNZ's (and our) forecasts that harder yards lie ahead for the economy
  • Housing tax policy changes represent a new downside risk, but there are upside risks for both activity and inflation as well, including the trans-Tasman travel bubble
The Reserve Bank of New Zealand announce,ent is due at 0200 GMT on April 14

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