RBNZ

NZD traders heads up - RBNZ advisory of Governor Orr speech after the next policy meeting

• Note for the diary

BNZ change their RBNZ rate cut forecast to November, from August previously

• Sticky inflation the issue facing the Reserve Bank of New Zealand

ANZ says the RBNZ has no tolerance for delays in the return of inflation to target

• ANZ continues to expect a Reserve Bank of New Zealand rate hike on February 28

RBNZ Governor Orr: Flexible approach to inflation targeting remains appropriate

• Comments from Orr

NZD traders heads up - RBNZ Governor Orr will speak on Friday

• Will speak on inflation, a hot topic at the RBNZ right now

RBNZ unlikely to hike its cash rate this year, and 'forget about easings' too

• New Zealand's inflation expectations fall

New Zealand inflation expectations Q1 2024: 2 year at 2.5% (2.76% prior)

• Reserve Bank of New Zealand survey data

RBNZ Gov Orr says inflation remains too high, that's why we've kept cash rate at 5.5%

• Reserve Bank of New Zealand Governor Orr

RBNZ's Hawkesby says the New Zealand financial system remains strong

ANZ are expecting the RBNZ to hike its cash rate in February and in April, to 6%

• Going against the consensus

New Zealand's Reserve Bank emphasizes that the inflation fight is not over

• Rate cuts from the RBNZ are still many months away

RBNZ's own Q4 CPI indicator 4.5% y/y (prior 5.2%) - this is its Sectoral Factor Model

• Non-tradeable inflation remains high in New Zealand

New Zealand Q4 CPI inflation data shows high domestic inflation, RBNZ likely look through

• ANZ analysis of the data in summary

NZD/USD is jumping after a huge 5.9% non tradable inflation number in the Q4 data

• High non-tradeable inflation argues for continued tight monetary policy.

Reserve Bank of New Zealand to consult on loosening (macroprudential) policy

• The RBNZ is proposing easing back on lending restrictions a little