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NZD: 100% probability that RBNZ will cut once more this year - Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Imre Speizer, Senior Market Strategist at Westpac, notes that the market pricing for the RBNZ slipped further, with a terminal rate of 2.21% now price in, i.e. a 100% probability the RBNZ will cut once more this year, and a 16% probability it will cut twice.

    Key Quotes

    “We now expect the RBNZ to cut by 25bp to 2.25% in March and again to 2.0% in June (a change from June and August) following the RBNZ’s OCR Review last week which made its easing bias explicit and as unconditional as a bias could be.

    The next major monetary policy event will be the 3 Feb annual speech by Governor Wheeler, and Assistant Governor McDermott’s speech the next day on policy guidance. We will be looking for clues on timing.”
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