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DAY 10 - RBNZ MONETARY POLICY ANNOUNCEMENT

The most important event risk on the calendar this week is the Reserve Bank of New Zealand’s monetary policy announcement. Having raised interest rates at the last 2 meetings, the RBNZ is the world’s most hawkish central bank and 85% of the economists surveyed by Bloomberg expect the central bank to raise rates for the third time in a row. However I believe rates will remain unchanged and this discrepancy is where I see the opportunity to sell the NZD/USD.
Since the last monetary policy meetin…
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RBNZ MONETARY POLICY STATEMENT


The slam-dunk of monetary events is supposed to occur later today. The Reserve Bank of New Zealand is expected to tighten interest rate policy. It is the key event in a relatively quiet week for G10 economies. To many the biggest event risk is the Governor Wheeler and company will do nothing in upcoming monetary policy statement. The RBNZ has held the OCR (overnight cash rate) at +2.5% for three-years now, and in that time, not at all dissimilar to other developed countries, Kiwi monetary polic…
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