RBNZ

Goldman Sachs expects a 25bps hike from the RBNZ in May, see AUD/NZD higher into year-end

RBNZ'S Hawkesby says the underlying economy has strength , NZ banks are well positioned

Reserve Bank of New Zealand says labour market data remains strong, job security is high

NZD/USD not far from its session high - jobs beat, financial stability supports RBNZ hikes

RBNZ Governor Orr says NZ financial system is well placed to handle higher interest rates

RBNZ says not currently seeing widespread financial distress amongst households, business

More on the Reserve Bank of New Zealand proposing an easing of LVR restrictions

Reserve Bank of New Zealand proposes easing some macroprudential requirements

• Easier LVRs proposed

NZ CPI downside surprise increases the likelihood that the RBNZ could pause on 24th May

Mkt. sees some chance of RBNZ easing cycle beginning late 2023, but not really until 2024

RBNZ inflation measure for Q1 2023 5.7% y/y (vs. 5.8% previously) - NZD dips a little more

There is more inflation data to come from New Zealand later - RBNZ's own preferred measure

NZD/USD marked down following lower than expected (but still elevated) NZ CPI data

New Zealand Q1 CPI 1.2% q/q (vs. 1.7% expected)

The RBNZ have given a heads up for Dep Gov Hawkesby speaking (Friday 21 April)