Economist at UOB Group Lee Sue Ann reviewed the latest interest rate decision by the RBNZ. Key Quotes “The September meeting culminated with the Reserve Bank of New Zealand (RBNZ) keeping its Overnight Cash Rate (OCR) unchanged at 0.25%, as expected, in accordance with the guidance issued on 16 March. It also agreed to continue with its Large Scale Asset Programme (LSAP) at NZD100bn.” “The accompanying press release, however, outlined further measures that can be deployed if needed, including a Funding for Lending Programme (FLP), a negative OCR, and purchases of foreign assets. The Committee agreed that these instruments can be mutually supportive in bolstering economic activity.” “We think it is looking more likely that the RBNZ will cut the OCR, but we will only be revising our forecasts following the November meeting. In terms of timeline, at this juncture, the RBNZ looks likely to cut the OCR by 50bps at the 14 April 2021 meeting, alongside a FLP, pausing thereafter. Moving in February or April should not really matter in terms of policy effectiveness, since the move will have been well-signaled in advance, which we believe the RBNZ will indicate (and commit to) latest by the 24 February meeting. Moreover, the RBNZ has pledged to keeping the OCR unchanged until March 2021, and has made no promises – or even forecasts – beyond that point. We take this forward guidance seriously.” 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 SNB’s Jordan: Interventions have had impact against upward pressure of the Swiss franc FX Street 2 years Economist at UOB Group Lee Sue Ann reviewed the latest interest rate decision by the RBNZ. Key Quotes “The September meeting culminated with the Reserve Bank of New Zealand (RBNZ) keeping its Overnight Cash Rate (OCR) unchanged at 0.25%, as expected, in accordance with the guidance issued on 16 March. It also agreed to continue with its Large Scale Asset Programme (LSAP) at NZD100bn.” “The accompanying press release, however, outlined further measures that can be deployed if needed, including a Funding for Lending Programme (FLP), a negative OCR, and purchases of foreign assets. The Committee agreed that these instruments can… 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.