The Reserve Bank of New Zealand meet next week, Wednesday November 29 with the announcement due at 2pm local time
- 0100 GMT
- 2000 US Eastern time on Tuesday
The market consensus is that the Bank will hold its cash rate at 5.50% for the fourth consecutive meeting. Despite inflation remaining well above the Bank’s 1-3% target range at 5.6% y/y for the latest reading.
With such persistent and sticky inflation the RBNZ will remain hawkish.
ANZ:
- “We expect the Reserve Bank to carefully leave all its
options open and stress the next move in rates could be up or
down and they’re in data-dependent mode - Given the most recent data, they’re probably a little less
worried than they were. But there is still a long way to go, and
the Reserve Bank will be very aware that the job is far from
done.”
ANZ forecast rates on hold for all of 2024.
This article was written by Eamonn Sheridan at www.forexlive.com. Source