In opinion of analysts at TD Securities, RBNZ’s OCR is expected to remain unchanged in its forthcoming policy setting meeting tomorrow as no-one expects changes for some time.
Key Quotes
“There is only one official rate cut prediction, OIS is 80% priced for a cut by year end.”
“We expect Gov Orr to out-dove the RBA with GDP/CPI downgrades and a rehash of the -100bp scenario that shocked last Aug.”
“The OCR profile could be flat at 1.75% (repeat of March 2015) from the Nov view of +25bp by end-2020.”
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