RBNZ: Market continues to price a hike in Sep-18 - Westpac

NZ monetary policy Market pricing for the RBNZ has been stable during the past month, with September 2018 predicted to be the date of the first OCR hike, according to Imre Speizer, Research Analyst at Westpac.

Key Quotes

“We think the market pricing remains too optimistic, our forecast for the first rate hike being November 2019. Our confidence in that has grown slightly since the RBNZ’s OCR Review yesterday. It hints at the November MPS being more dovish than the August MPS, via downgrades to its GDP and housing forecasts.”