New Zealand's central bank announces the official cash rate at 2000 GMT (3 pm ET)
- From Eamonn: RBNZ meet Thursday 9 February - preview
- From Credit Agricole: Currency preview into the RBA & RBNZ this week: "AUD/NZD could head lower"
- Goldman Sachs preview of the RBNZ decision
- NZIER's Shadow Board recommends the RBNZ hold the OCR steady
- Westpac remarks on NZ Inflation Expectation data
The New Zealand dollar has traded in a range of 0.7283 to 0.7334 today. Currently, it's virtually unchanged on the day at 0.7306.
Here's what Westpac is saying:
"We expect the RBNZ to remain on hold at 1.75% at tomorrow's MPS, and to retain a neutral bias, which shouldn't ruffle markets too much. However, there's a small risk of a hawkish shift, which would probably be expressed via a raised OCR projection. Such a move would cause NZ swap yields and the NZD to rise significantly in response."