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May 25 - 09:55 AM

NZD: Not Expecting Any Particular Surprise From RBNZ; Staying Bullish NZD/USD For 0.75 - Citi

By eFXdata  —  May 25 - 08:30 AM

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

"The RBNZ is expected to leave its monetary policy unchanged at the May 26 monetary policy meeting this week, keeping the OCR at 0.25%. We don’t expect any particular surprise, but the Bank is likely to reiterate its hawkish stance towards elevated housing prices," Citi notes. 

"Bigger picture, we maintain a constructive view for the pair, while supposing the overall USD weakness to continue in the medium term. Our model analysis indicates that NZD is becoming undervalued, and we expect the pair to climb to 0.75 or even higher later this year," Citi adds. 

Source:
Citi Research/Market Commentary

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