NZD traders – Here are the 2 key indicators to watch for the next RBNZ (potential rate cut) meeting

  


Yesterday we got an hold monetary policy decision from the Reserve Bank of New Zealand  

Some quick thoughts from TD on the decision:

  • RBNZ… statement suggests the RBNZ is content to assess the outlook
  • the Bank highlighting no significant change in the monetary policy outlook, it implies further easing is more likely than not
  • Overall the MPC sees risks skewed to the downside on a number of fronts – global trade/geopolitical tensions, low business confidence, likely delay in fiscal policy and likely low inflation
  • We had anticipated the Bank to point to downside risks to its 2020 GDP forecasts, but the RBNZ was positive on the outlook 1 year out, so this did come as a surprise

What to watch ahead of the next RBNZ meeting:

  • Near term, the ANZ’s Business Outlook survey on 30th Sep
  • and the NZIER’s Quarterly Business Survey on 1st Oct will be key

Next RBNZ policy meeting is  

  • 13 Nov 2019
  • Monetary Policy Statement
  • media conference
Yesterday we got an hold monetary policy decision from the Reserve Bank of New Zealand  

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