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Analysts at TD Securities suggest that the consensus doesn’t expect a hike by the RBNZ until at least Q4 2019.

Key Quotes

“After no change to the OCR and next move could be “up or down”, markets will be scouring for the 100bp cut risk case that was so widely promoted by the RBNZ in August.”

“We will be looking for language around how stronger Q2 GDP and Q3 CPI prints generate automatic upgrades to 2018 growth and inflation forecasts.”