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25 Jan 2016
NZD: RBNZ to leave the OCR unchanged – RBC CM
FXStreet (Delhi) – Research Team at RBC Capital Markets, expects the RBNZ to leave the OCR unchanged at 2.5% at this meeting.
Key Quotes
“It is, however, likely to note the heightened volatility in global markets in early 2016 and may, accordingly, hint at a little more downside risk to domestic activity. On a TWI basis, the currency is also not far from its December MPS level, which prompted the Governor to suggest that “further depreciation would be appropriate in order to support sustainable growth.”
We would not be surprised to see this sentiment repeated. Local data have been sparse over the last month but business survey and confidence measures have shown some resilience. This may well temper some global concerns, at least for now.”
Key Quotes
“It is, however, likely to note the heightened volatility in global markets in early 2016 and may, accordingly, hint at a little more downside risk to domestic activity. On a TWI basis, the currency is also not far from its December MPS level, which prompted the Governor to suggest that “further depreciation would be appropriate in order to support sustainable growth.”
We would not be surprised to see this sentiment repeated. Local data have been sparse over the last month but business survey and confidence measures have shown some resilience. This may well temper some global concerns, at least for now.”