NZ: RBNZ inter-meeting economic assessment in focus this week - TDS

Research Team at TDS, suggests that the impact of the uber-hawkish RBNZ Spencer saw us (and others) push our Aug RBNZ cut into Nov, awaiting new macro -prudential tools.

Key Quotes

“This unusual mid-MPS “economic assessment” is likely to be 5-6 paragraphs without a OCR comment. Will Wheeler talk down the currency, or will he highlight the risks of a housing bubble? No-one knows, but the market thinks the RBNZ is preparing for an August rate cut.”