Can The RBNZ Deliver On Expectations?
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It’s the RBNZ’s turn to step up to the plate this week where the markets are very keen to find out whether the bank can deliver on expectations.
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After a very solid Q1 GDP and an upbeat business survey, markets have brought forward their expectations for a rate hike by the RBNZ to November this year. That means, at current pricing, markets see the bank hiking rate 4 months from now.
Even though we agree that the fundamentals for are solid right now, the market might be a bit too aggressive in their projections and could see the RBNZ disappoint.
However, as the NZD has been under-priced in the past couple of weeks, a hawkish confirmation from the RBNZ could be just what the doctor ordered to see the NZD push higher.
We’ll go through all of that in this week’s week ahead video.
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