Reserve Bank of New Zealand coming up at top of hour – quick rundown on what to expect

The Reserve Bank of New Zealand decision is due at 2pm New Zealand time:

• 0200 GMT
• 2200 US Eastern time

The Bank is widely expected to hold rates at 5.50%

• While inflation is still well above target the subsiding NZ economy is likely to prompt the Bank to be a touch less hawkish than it was in May and to voice concern over sluggish economy, worsening business confidence
• This meeting is a policy review, not a full Monetary Policy Statement; there will be no fresh economic forecasts or
  briefing issued

Earlier:

• RBNZ policy decision today – “market looks positioned for a more dovish message”

• New Zealand – RBNZ shadow board recommends the Reserve Bank keeps OCR at 5.5% on Wednesda
• RBNZ Monetary Policy Review due Wednesday – “not expecting a whole lot”

• Reserve Bank of New Zealand policy meeting this week – preview (on hold widely expected)
• Reserve Bank of New Zealand policy meeting – rates to be left on hold

This article was written by Eamonn Sheridan at www.forexlive.com.