11 Mar 2015
RBNZ unlikely to fuel rate cut expectations - BNZ
FXStreet (Bali) - The FX Research Team at BNZ does not believe the RBNZ will wish to fuel rate cut expectations at tomorrow morning’s meeting.
Key Quotes
"The market will now have all eyes on tomorrow morning’s RBNZ meeting. We do not believe the RBNZ will wish to fuel rate cut expectations, however we do think it will significantly flatten its published 90-day bank bill track. This in itself, along with the usual talk of “unjustified” and “unsustainable” NZD strength, could be enough to encourage current negative momentum in the NZD. Key NZD/USD support lies at the early-Feb lows of 0.7180."
Key Quotes
"The market will now have all eyes on tomorrow morning’s RBNZ meeting. We do not believe the RBNZ will wish to fuel rate cut expectations, however we do think it will significantly flatten its published 90-day bank bill track. This in itself, along with the usual talk of “unjustified” and “unsustainable” NZD strength, could be enough to encourage current negative momentum in the NZD. Key NZD/USD support lies at the early-Feb lows of 0.7180."