The Reserve Bank of New Zealand interest rate decision is due at 2100GMT. Adam has covered it in his preview – rates are expected to remain on hold, there are no expectations at all for a change:
There isn’t an economist who is forecasting a change from the 2.50% target rate. The market sees the RBNZ on the sidelines for the remainder of the year and is pricing a 42% chance of a single 25-bps hike in the coming 12 months.
I don’t expect a change either. A rate hike at this time would be a big, big surprise. If you like betting on outliers, that’s the one to watch for (let me repeat, though, it aint gonna happen).
