Annette Beacher, chief Asia-Pacific macro strategist, points out that the RBNZ left the cash rate at 1.75% as widely anticipated, but the Bank’s forward guidance was not as benign as expected, and the repeat of “the next move could be up or down” disappointed the doves. Key Quotes “The RBNZ lowered GDP and CPI projections as expected and was not controversial. What was hawkish was the Bank pushing the first 25bp OCR increase from late 2020 to mid-2021, not removing it altogether.” “The rate cut scenario was also diluted, where global growth disappointment would see the OCR lowered by 50bp.” “Despite New Zealand’s major trading partners (AUD, CNY and USD) starting the new year with a fresh cautious tone, the RBNZ held its ground. While claiming that the cash rate will be at 1.75% for longer, the forward guidance is still signaling that the next move remains up for the cash rate.” “OIS has adjusted across the board: an August cut has been dialed down from a 50/50 risk to closer to 30%, and November from 70% to closer to 50/50.” 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 Anthony Pompliano sheds more insight into Morgan Creek’s $40 million cryptocurrency venture capital fund FX Street 3 years Annette Beacher, chief Asia-Pacific macro strategist, points out that the RBNZ left the cash rate at 1.75% as widely anticipated, but the Bank's forward guidance was not as benign as expected, and the repeat of "the next move could be up or down" disappointed the doves. Key Quotes "The RBNZ lowered GDP and CPI projections as expected and was not controversial. What was hawkish was the Bank pushing the first 25bp OCR increase from late 2020 to mid-2021, not removing it altogether." "The rate cut scenario was also diluted, where global growth disappointment would see the OCR lowered by 50bp."… 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.
