RBNZ: Market still pricing hike in Mar-18 - Westpac

Imre Speizer, Research Analyst at Westpac, points out that market pricing for the RBNZ has changed little since February, implying a hike by March 2018.

Key Quotes

“Messaging from the RBNZ since the MPS projections were published has been consistent (via Governor Wheeler’s speech and the March OCR Review), namely that the OCR is not expected to move for a long time but that the next cycle is likely to be a tightening one.”

“Economic developments since the March meeting have been trivial, suggesting the market is justified in keeping OIS pricing stable.”