A few items around the place on New Zealand as the new forex week gets underway

Westpac have updated their outlook for the Reserve Bank of New Zealand:

  • See "no change in the OCR over 2019, 2020 and 2021 … OCR outlook is evenly balanced for the foreseeable future"
  • (WPAC economists had previously expected the Bank to hike November 2020 )

Citing:

  • outlook for the construction sector, activity to top out in 2019, diminish from 2020
  • economy has lost momentum late last year

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PS the RBNZ monetary policy meeting is this week

  • WPAC expect RBNZ to move to a neutral forecast for official cash rate