When is the RBNZ and how might it affect NZD/USD? – by fx_ross RBNZ NZDUSD Currencies CentralBanks
The Reserve Bank of New Zealand is seen raising OCR by 50 bps to 3.5% in October today when it meets and announces the decision at 0100 GMT.
However, as they note, inflation risks are a more pressing matter for New Zealand. However, a surprise 75 bps rate hike now seems off the table after the''We expect a 50bp hike and hawkish tone, but the market is already pricing in a lot, so the bar is high.'' Capacity pressures are only easing slowly and the labour market remains very tight. In this inflationary environment we see the RBNZ has little choice but to focus on dampening inflation pressures by delivering another 50bp rate hike,'' the analysts explained. How might the RBNZ affect the NZD/USD price NZD/USD?
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