RBNZ likely to leave the OCR at 1.75% - ANZ

Analysts at ANZ expect the RBNZ to leave the OCR at 1.75% at its forthcoming meeting next Thursday. 

Key Quotes

“With the RBNZ in data‑watching mode, we expect that they will want to keep things simple – retaining a consistent message and keeping their options open until they have a clearer sense regarding the degree of economic momentum into the end of the year.”

“Overall, recent data has been respectable but mixed. The starting point for GDP is stronger than expected, but forward-looking indicators of activity are more downbeat.”

“A stronger starting point for GDP provides more breathing room for the RBNZ to “watch, worry and wait”.”

“We don’t think the RBNZ’s communication will change substantially.”

“Our expectation is that the OCR will be on hold for the foreseeable future.”