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Oct 04 - 12:55 PM

NZD: Another 50bp Rate Hike From The RBNZ - Credit Agricole

By eFXdata  —  Oct 04 - 11:08 AM

Credit Agricole CIB Research discusses its expectations for tonight's RBZN policy decision .

"We expect the RBNZ to hike rates another 50bp on Wednesday to take the OCR to 3.50% and further into restrictive territory. NZ’s growth has remained robust despite rapidly declining house prices, weak business & consumer confidence and higher rates & living costs," CACIB notes. 

"The RBNZ’s previous language on the exchange rate has been that its raising of rates has kept it higher than would otherwise be the case and that the lower exchange rate is feeding into inflation via higher import prices, but is also supporting exporters’ revenues," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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