10 Jun 2015
RBNZ to lower the benchmark rate by 25bp - RBS
FXStreet (Bali) - The RBS FX Strategy Team expects the RBNZ to lower the benchmark rate by 25bp when they meet Thursday morning in New Zealand.
Key Quotes
Late in the US session tomorrow (Thursday morning local time) the RBNZ decision is due and we expect the RBNZ to lower the benchmark rate by 25bp.
This meeting includes a new forecast round and a press conference by Governor Wheeler, providing ample scope to discuss the decision in the context of new growth and inflation forecasts.
Prices of dairy, a key export, have declined further and we think macro prudential measures aimed at cooling the Auckland housing market introduced in May gave additional scope to lower the policy rate.
Key Quotes
Late in the US session tomorrow (Thursday morning local time) the RBNZ decision is due and we expect the RBNZ to lower the benchmark rate by 25bp.
This meeting includes a new forecast round and a press conference by Governor Wheeler, providing ample scope to discuss the decision in the context of new growth and inflation forecasts.
Prices of dairy, a key export, have declined further and we think macro prudential measures aimed at cooling the Auckland housing market introduced in May gave additional scope to lower the policy rate.