Barclays Research notes that the focus for NZD traders will be on RBNZ’s rate decision and policy statement this week.
“With NZD nominal TWI having rebounded nearly 4% since early May, we do not think the RBNZ will want to rock the boat by changing its tone. Instead, we expect it to keep the official cash rate (OCR) unchanged and reiterate its neutral policy stance.
Markets would also watch for any discomfort with the strength in the NZD exchange rate.
On inflation, the RBNZ will likely continue to think that the recent increase in inflation is due to temporary factors that should subside by the end of 2017,” Barclays argues.
Source: Barclays Research
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