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Jul 13 - 10:55 AM

NZD: Is A November Hike Coming? - Citi

By eFXdata  —  Jul 13 - 09:30 AM

Citi discusses its expectations for tonight's RBNZ policy meeting.

"The RBNZ is likely to leave the OCR unchanged at 0.25% at its monetary policy meeting on July 14 this week. There is a growing view in the local market that the Bank will start raising the policy rate in November this year, while this is not our base scenario," Citi notes. 

"However, it will likely utilize the current situation of limited upside for long-term bond yields around the world as well as the absence of appreciation in NZD as another indication for the policy normalization," Citi adds.

Source:
Citi Research/Market Commentary

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