RBNZ: the bottom line, RBNZ is clear - ANZ

Following the RBNZ analysts at ANZ explained, that as expected, the RBNZ maintained the OCR at 1.75%, with the tone undeniably neutral. 

RBNZ keeps interest rates on hold at 1.75%

Key Quotes:

"Indeed, we’d describe it as aggressively neutral, with the RBNZ leaving its projected OCR profile unchanged. We’re scratching our heads regarding some aspects – the inflation forecasts seem to be testing the realms of credibility, given an economy that is forecast to continue to grow above trend. 

However, the message from the RBNZ is clear: policy is set to remain on hold for a considerable period and it has no interest whatsoever in pre-empting a policy tightening. We also suspect it is quietly smug about the tightening in policy being applied by the banking sector; a factor underappreciated by the market."