10 Mar 2015
RBNZ set to disappoint rate-cut brigade - BNZ
FXStreet (Bali) - Thursday’s RBNZ is set to disappoint the rate-cut brigade, notes Craig Ebert, Senior Economist at BNZ.
Key Quotes
"All eyes are on Thursday morning’s Monetary Policy Statement. We believe the Reserve Bank will play this one straight down the middle, emphasising that it is very much on hold until there is a compelling case to deviate – downward, or upward."
"Think of this week’s Statement as an elaboration of Governor Wheeler’s speech of 4 February. Sure, this largely reiterated the moderating tack that the January OCR review took. However, the speech was important in tidying up some of the “loose” wording of January’s commentary, to which the markets did their best to over-react to."
Key Quotes
"All eyes are on Thursday morning’s Monetary Policy Statement. We believe the Reserve Bank will play this one straight down the middle, emphasising that it is very much on hold until there is a compelling case to deviate – downward, or upward."
"Think of this week’s Statement as an elaboration of Governor Wheeler’s speech of 4 February. Sure, this largely reiterated the moderating tack that the January OCR review took. However, the speech was important in tidying up some of the “loose” wording of January’s commentary, to which the markets did their best to over-react to."