RBNZ to reiterate the next move could be 'up or down' - UBS

The UBS analysts offer a sneak peek at what to expect from Wednesday’s Reserve Bank of New Zealand (RBNZ) monetary policy decision.

Key Quotes:

“RBNZ to leave the OCR unchanged at 1.75%.

Our economists also expect the RBNZ to repeat the key messages from the February MPS that the OCR will remain unchanged through 2019 and 2020 and that the next (move)could be 'up or down'. 

We still see upside in NZD as the market remains too dovishly priced relative to the RBNZ's tone and as domestic fundamentals remain resilient.”