Analysts at ANZ explained that markets are clearly looking for the CPI to be the possible catalyst (or not) to lock in another OCR cut by the RBNZ for next week. Key Quotes: "With inflationas low as it is (0.1% y/y to Q4 2015), the RBNZ has very little wriggle room for downside surprises. Especially given that it seems that past inflation outcomes are now believed to have a greater bearing on wage and pricesetting outcomes than previously thought. In addition to a mixed inflation picture, evidence of capacity constraints in some pockets, booming regional housing markets, and a resurgent Auckland market mean that even though our NZ economists are still forecasting the OCR lower, they are a little wary of the trade-offs a lower OCR brings." For more information, read our latest forex news.