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Dominick Stephens, chief economist at Westpac, suggests that the RBNZ is likely to repeat the key messages from February, including “OCR on hold through 2019 and 2020″ and “the next move could be up or down.”

Key Quotes

“The details of the statement will also be similar to February, emphasising global risks and a positive domestic outlook.”

“Recent developments have been in line with RBNZ expectations, so there is no reason for the RBNZ to change stance.”

“The impending move to a Monetary Policy Committee is another reason for the RBNZ to avoid rocking the boat right now.”

“Markets would be surprised by an unchanged statement from the RBNZ. Swap rates and the exchange rate would rise a bit.”