ANZ economists expect RBNZ to keep hawkish stance, before making abrupt OCR cut in August.
https://www.nzherald.co.nz/business/...CDNJHHAI4SULI/
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ANZ economists expect RBNZ to keep hawkish stance, before making abrupt OCR cut in August.
https://www.nzherald.co.nz/business/...CDNJHHAI4SULI/
Westpac agrees, "should the Fed ease policy before RBNZ", which looks highly likely now... https://www.bloomberg.com/news/artic...d=premium-asia
Higher dairy prices, stabilizing housing market, continuing net positive immigration, strengthening tourism in NZ...
While US get drawn in with more and more spending in proxy wars in Ukraine, Taiwan, Israel, Korea theatres...
YoY tradeable inflation rate 4.7%
YoY non-tradeable inflation rate 5.9%
QoQ tradeable inflation rate -0.2%
QoQ non-tradeable inflation 1.1%
https://www.stats.govt.nz/information-releases/consumers-price-index-december-2023-quarter/#:~:text=annual%20inflation%20rate%20was%204.7,inf lation%20rate%20was%20%2D0.2%20percent
“While this is the smallest annual rise in the CPI in over two years, it remains above the Reserve Bank of New Zealand’s target range of 1% to 3%,” Stats NZ consumers prices senior manager Nicola Growden said. https://www.stuff.co.nz/business/350...-stats-nz-says
Since tradeable inflation, which is affected by international factors, fell more than domestic inflation... RBNZ not likely to cut soon, if it cuts at all this year, as RBNZ as well as the Government remain inflation hawks for the time being. Time for NZD to head towards 65c, and beyond if/when FED cuts aggressively
Hey beacon, what’s going on ….NZDUSD heading towards sub 60
Was it Conways fault saying NZ getting poorer and poorer with little hope of any improvement in productivity
New data from Stats NZ today shows the unemployment rate was:
4% in December 2023 quarter,
vs 3.9% in the previous quarter.
vs 4.3% market expectation.
So, economy is holding up better than expected, RBNZ likely to continue holding (OCR) interest rates at current levels for longer. So NZD back up to 61c...
https://www.nzherald.co.nz/business/...CW5ZOUKPKSRDY/