The Reserve Bank of New Zealand statement is due at 0200 GMT, which is 2200 US Eastern time.

The Bank is expected to leave its cash rate on hold at 5.5%.

I posted this on Tuesday:

Via ANZ now, some points to note from their preview:

We (along with everyone else) expect the OCR to be unchanged at 5.50%, with a reiteration of the key messages from the February MPS. Data since then has been mixed, but on net there has been nothing to move the dial.

Overall ... we don’t see net grounds for the RBNZ to change its thinking materially from February. This on-hold OCR decision is being taken as a given, but there are a couple of interesting things to look out for in the Record of Meeting:

1. Any discussion on near-term inflation risks (monthly price indexes, the NZD, oil prices).

2. Any take on whether the Committee thinks the upward surprise in consumption in Q4 was notable (we don’t think it was given overwhelming evidence of weakness elsewhere in the GDP data).

3. And of course, any change to the language around the outlook for monetary policy. However, we are expecting something extremely similar if not identical to the February line that “interest rates need to remain at a restrictive level for a sustained period of time”.


NZD/USD update, the kiwi $ has traded mainly in line with other 'risk':

nzd usd rbnz statement 10 April 2024 2