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Sep 22 - 02:55 PM

NZD: No Change Expected From RBNZ; Statement Tone & Minutes Likely To Remain Dovish - Barclays

By eFXdata  —  Sep 22 - 01:25 PM

Barclays Research discusses its expectations for tonight's RBNZ policy meeting.

"After aggressive front-loaded easing, we expect the RBNZ to leave rates unchanged through rest of the year, before taking further steps early next year, most likely via OCR cuts. The tone of the statement, as well as the minutes, likely will remain dovish and highlight the need for more monetary stimulus," Barclays notes. 

"We think the central bank’s statements at the next few meetings will be significant in gauging its view of the need for negative rates and the timing of potential future cuts," Barclays adds. 

Source:
Barclays Research/Market Commentary

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