Economists at Westpac Institutional Bank now expect the RBNZ will reduce the OCR to -0.5% in April 2021 (previously November 2020). The kiwi tends to rise when global risk sentiment improves and risk sentiment will indeed improve as the Covid crisis fades over a number of years. Key quotes “The Reserve Bank revealed that it has asked the trading banks to ready themselves to implement a negative OCR by December 1 this year. We now expect that the RBNZ will cut the OCR to -0.5% in April 2021.” “We expect that the RBNZ will expand its Large Scale Asset Purchase (LSAP) programme to $70bn at the June OCR Review, and $80bn at the August MPS.” “We forecast that the weekly pace of LSAP bond purchases will average $1.1bn until April 2021, slowing to $0.8bn after a negative OCR is introduced. We calculate that the LSAP will eventually total $100bn by June 2022.” “We are not forecasting foreign bond purchases, but if there is another big negative economic shock this year then the RBNZ could use that option.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next ECB’s Panetta: EU recovery fund proposal is considerable step forward FX Street 2 years Economists at Westpac Institutional Bank now expect the RBNZ will reduce the OCR to -0.5% in April 2021 (previously November 2020). The kiwi tends to rise when global risk sentiment improves and risk sentiment will indeed improve as the Covid crisis fades over a number of years. Key quotes “The Reserve Bank revealed that it has asked the trading banks to ready themselves to implement a negative OCR by December 1 this year. We now expect that the RBNZ will cut the OCR to -0.5% in April 2021.” “We expect that the RBNZ will expand its Large Scale Asset Purchase… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
