RBNZ: No change expected in the OCR outlook - Westpac
Analysts at Westpac are out with their take on the Reserve Bank of New Zealand (RBNZ) monetary policy decision due next week on May 10th.
Key Quotes:
“We don't expect a change in the OCR outlook.
But if there is a change, it will be in the direction of slightly earlier hikes than previously signalled.
Next week's MPS will reveal a great deal about Adrian Orr's style and how the OCR will be affected by the new PTA.
The wording of the MPS and the press release will be different, but markets shouldn't necessarily take that as a signal.
It might just reflect the new Governor's communication style.
The RBNZ's new labour market directives probably won't cause a change in the OCR outlook this time.
However, the labour market target might matter at other points in time.”