25 Jul 2013
Flash: RBNZ a touch more hawkish, early 2014 rate hike - NAB
FXstreet.com (Barcelona) - The RBNZ’s policy statement earlier today was a touch more hawkish relative to June, NAB Economists note.
Key quote
"For the first time, the Bank has noted explicitly the next move is up - ''removal of monetary stimulus will likely be needed in future'''. Our BNZ strategist noted that the key line ''we expect to keep the OCR unchanged through the end of the year'' was retained however, suggesting an early 2014 rate hike remains the most likely timing."
Key quote
"For the first time, the Bank has noted explicitly the next move is up - ''removal of monetary stimulus will likely be needed in future'''. Our BNZ strategist noted that the key line ''we expect to keep the OCR unchanged through the end of the year'' was retained however, suggesting an early 2014 rate hike remains the most likely timing."