RBNZ: No fireworks coming - TDS

According to analysts at TD Securities, the RBNZ OCR Review is widely expected to make the smallest ripple possible tomorrow.

Key Quotes

“The recent Dec quarter GDP report revealed that domestic demand was strong (consumption and investment, public and private) while trade was thought to be neutral for growth, but in the end added another +0.6%pts.”

“With inflation expectations anchored just above 2% and maximum sustainable employment achieved, there are no triggers for the RBNZ to change its February stance where the next cash rate move “could be up or down”, and that the cash rates is likely to stay “unchanged through 2019 and 2020”. There are no updated forecasts, no OCR forward guidance nor press conference, these are scheduled for 8 May.”