A couple of analyst remarks following the Reserve Bank of New Zealand earlier
ANZ:
- RBNZ has time on its side
- Was only slightly more dovish in their MPS
- We expect they'll move further in that direction as the year progresses and growth undershoots their projections
- We continue to forecast an OCR cut by year end
Westpac:
- MPS wasn't as dovish as markets had expected
- barest of tweaks to the guidance paragraph and the OCR forecast
- Reactions seem excessive
- Market pricing back to 50% chance of a cut by year end (from 85%)
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