- Market focus turns to central banks this week, with the FOMC statement in the US and RBNZ statement here in NZ this Thursday.
- Q1 CPI data gives RBNZ some inflation breathing space, such that we now see July as most likely meeting for OCR increase.
- But RBNZ statement likely to leave the timing of tightening open to both June and July.
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Report Prepared by:
Christina Leung
ASB Economist
Phone: +64 9 369 4421
Fax: +64 9 302 0992
