-
NZD Crosses Holding Steady Ahead Of RBNZ Meeting
As is usually the case, overnight implied volatility has spiked ahead of the central bank meeting, irrespective of the fact that most expect rates to remain unchanged at 1.75%. Still, it remains prudent to assume volatility could spike in the event of new or unexpected information. Summary of February OCR meeting: • OCR expected to remain at 1.75% trough to 2019 and 2020 • Next OCR move could be up or down • Low interest rates and government spending to support growth pick-up over 2019 • CPI expected to rise to around the 2% mid-point target – but there are upside and downside risks to this outlook. • OCR ... (full story)