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Differing outlooks
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Following policy rate announcements from central banks globally last week, it is the turn of our central bank this week with the release of the Monetary Policy Statement on Thursday.
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The market consensus is for no change in the OCR, and the key focus will be on the tone of the statement.
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The RBNZ is expected to stick with its “middle of 2010” outlook for rate hikes. In contrast, the RBA has already commenced its tightening cycle earlier, delivering the 4th 25 bp rate hike last week, reflecting the different state of the two economies.
Read the full PDF report.
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Report Prepared by:
Christina Leung
ASB Economist
Phone: +64 9 369 4421
Fax: +64 9 302 0992
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