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RBNZ to remain on the side-lines until 2016 - ANZ

FXStreet (Delhi) – Analysts at ANZ, suggest that following the RBNZ’s decision to leave the OCR unchanged last week, we now find ourselves out of consensus in expecting this period on the side-lines to last into 2016, whereas the consensus is looking for a December cut.

Key Quotes

“While the chance of a cut in December is material (we’d put the odds at 30%), we have faith in the economic data to show further improvement into year-end. The exception may be this week’s labour market data, although softness there should come as no surprise and it’s a lagging indicator, not a leading one. Dairy prices also look set to retrace further this week.”

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