Dominick Stephens, Chief Economist at Westpac, points out that the RBNZ has moved away from the idea of cutting the OCR by removing the phrase that the next move in the OCR could be “up or down.” Key Quotes “But the RBNZ also made it clear that hikes are not expected until mid-2020.” “The Monetary Policy Statement acknowledged stronger signs of inflation pressure, but kept the OCR forecast unchanged.” “Extraordinarily, the RBNZ is forecasting that inflation and employment will overshoot the targets in the medium term, yet it is not planning to remedy that by raising the OCR.” “This could become a theme – strong data but a Reserve Bank that declines to forecast a rising OCR.” “The “new” Reserve Bank is more dovish than the old.” 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 RBNZ: Deviating from reality in NZ rates – TDS FX Street 4 years Dominick Stephens, Chief Economist at Westpac, points out that the RBNZ has moved away from the idea of cutting the OCR by removing the phrase that the next move in the OCR could be "up or down." Key Quotes "But the RBNZ also made it clear that hikes are not expected until mid-2020." "The Monetary Policy Statement acknowledged stronger signs of inflation pressure, but kept the OCR forecast unchanged." "Extraordinarily, the RBNZ is forecasting that inflation and employment will overshoot the targets in the medium term, yet it is not planning to remedy that by raising the OCR." "This could… Top 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.
