The RBNZ meet at 0100 on February 24 and the RBNZ’s press convention might be at 0200. The latest run of financial information for New Zealand has been good and inflationary pressures have been constructing within the final readings. Moreover, the prospect of damaging charges have receded with financial coverage seen to be working.
So the broad outlook for the NZD is extra energy. Sure, the RBNZ is not going to need to push forward of the Fed, so count on a dovish tilt within the financial institution’s rhetoric speaking about ‘dangers’ forward and many others. Nonetheless, the rising 2 yr inflation expectations, housing costs improve, and falling unemployment all imply the NZD ought to nonetheless face shopping for strain.
All economists polled by Reuters count on charges to stay unchanged at 0.25%. The RBNZ shadow board mentioned there was no ‘want for change’ at this assembly. You may learn their report right here.
Any falls within the NZD ought to be a purchase on the dips.