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Jul 12 - 02:55 PM

NZD: RBNZ Will Likely Have A Further Hawkish Shift This Week - Credit Agricole

By eFXdata  —  Jul 12 - 01:30 PM

Credit Agricole CIB Research discusses its expectations for this week's RBNZ policy meeting.

"The RBNZ faces the awkward trade-off between building local inflation pressures and the labour market being short of having recovered to pre-pandemic levels," CACIB notes. 

"The RBNZ will likely have a further hawkish shift this week and bring forward the forecast start to its rate hikes from Q322. NZ’s CPI data soon after the RBNZ meeting will help firm market expectations for the RBNZ and should spike to 2.5-3.0% on base effects from the pandemic," CACIB adds. 

Crédit Agricole Research/Market Commentary


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