Forex Flash: No RBNZ rate cut at sight for the nearest term - BNZ
FXstreet.com (Barcelona) - With latest economic data coming out of New Zealand not being extraordinarily good, some market participants are starting to wonder if the RBNZ will cut rates in the nearest term.
Stephen Toplis, Head of Research at BNZ thinks: "The RBNZ is highly unlikely to deliver a cut on December 6, in our view," the analyst says, adding: "However, it will likely acknowledge recent data (mostly Q3) softness," while, "Still, the market would likely respond to the more dovish tone with increased expectation of rate cuts resulting in lower short-end yields," Stepehen concludes.
Stephen Toplis, Head of Research at BNZ thinks: "The RBNZ is highly unlikely to deliver a cut on December 6, in our view," the analyst says, adding: "However, it will likely acknowledge recent data (mostly Q3) softness," while, "Still, the market would likely respond to the more dovish tone with increased expectation of rate cuts resulting in lower short-end yields," Stepehen concludes.
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