Andrew Ticehurs, Research Analyst at Nomura, notes that the Reserve Bank of New Zealand (RBNZ) today again announced an unchanged cash rate of 1.75%, as was forecast by all analysts according to Bloomberg. Key Quotes “It also repeated that it expects to keep the official cash rate (OCR) “at an expansionary level for a considerable period”. However, it removed its prior guidance that “the direction of our next OCR move could be up or down” which we judge to be a concession to better-thanexpected GDP, CPI and employment data.” “While the RBNZ flagged mixed risks – saying growth could be weaker than expected but inflation could be stronger than expected – we believe its forecast revisions tilt in a more hawkish direction.” “In its subsequent press conference, the RBNZ governor tried to keep the possibility of a rate cut alive, saying that the bank was not taking a rate cut off the table and that it would consider a rate cut if GDP growth falls short of forecasts. However, we would note that all policymakers desire flexibility and believe the solid hard data speaks for itself. Accordingly, we judge the probability of a rate cut to be very low and continue to forecast a first 25bp rate hike in Q4 of 2019.” 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 Fed will not change its monetary policy – Rabobank FX Street 4 years Andrew Ticehurs, Research Analyst at Nomura, notes that the Reserve Bank of New Zealand (RBNZ) today again announced an unchanged cash rate of 1.75%, as was forecast by all analysts according to Bloomberg. Key Quotes "It also repeated that it expects to keep the official cash rate (OCR) "at an expansionary level for a considerable period". However, it removed its prior guidance that "the direction of our next OCR move could be up or down" which we judge to be a concession to better-thanexpected GDP, CPI and employment data." "While the RBNZ flagged mixed risks - saying growth could be… 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.