RBNZ monetary policy statement due today - NZD scenarios

The Reserve Bank of New Zealand policy announcement is due at 0100GMT on Wednesday 24 February 2021, earlier previews here:

• NZ shadow RBNZ board says there is little need for monetary policy change
• RBNZ monetary policy meeting 24 February - preview

Also, Giles posted an extended pice on his thoughts for the kiwi$ impact:

• What's path of the NZD post RBNZ meet?

Westpac have outlined their scenarios, this a snippet from their piece:

We expect ... all policy settings unchanged, which is widely expected.

• Markets will look for hints in the narrative

A dovish scenario (25% chance ...) would comprise a signal that the current degree of accommodation is likely to be maintained for a long time.

• NZD/USD would fall by 0.5c.

A hawkish scenario (25% chance) would comprise hints on QE tapering (Westpac expects the LSAP programme to be reduced at the August meeting).

• NZD/USD would rise by 1c.