Responses to the RBNZ monetary policy announcement coming through

The Reserve Bank of New Zealand sept September 2018 policy announcement post is here

The only thing we got from the RBNZ was the scheduled media release; no news conference nor full Monetary Policy Statement this time around. Those will accompany the November decision (Nov 8)

This an (in summary ) response from Westpac:

no surprises for markets

  • OCR on hold at 1.75%, as was universally expected
  • repeated the key policy phrase that the OCR could go "up or down"
  • Markets interpreted the decision as neutral
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