The Reserve Bank of New Zealand statement is due at 0200 GMT, which is 2200 US Eastern time. I posted previews earlier:
- Preview - Reserve Bank of New Zealand monetary policy decision due today, on hold expected
- RBNZ meet: Shadow Board recommends keeping the Official Cash Rate (OCR) at 5.5%
This brief one is via Westpac:
- The Reserve Bank is widely expected to leave the OCR at 5.50% at its April policy review.
- There has been limited information on the economy since the February Monetary Policy Statement.
- GDP growth was slightly weaker than expected, but the impact is marginal compared to past forecast misses.
- Meanwhile, the inflation outlook still looks challenging in the near term, with the March quarter CPI likely to come in higher than the RBNZ’s forecast.
- We think the RBNZ will remain comfortable with the forward outlook that it communicated in February. Market pricing for an OCR easing as early as August is unlikely to find support
![rbnz april 10 schedule 2024 meet](https://images.forexlive.com/images/rbnz%20april%2010%20schedule%202024_id_99e2ea5e-11d9-4f05-864b-64e23454237c_size900.jpg)
Note that there is no media conference or supplementary published report for the Monetary Policy Review today.