Eagerly Awaited OCR Decision on the Horizon

Since monetary tightening, or a hawkish inflationary stance at the very minimum, comes as no surprise, news on US credit market and Japanese carry trade unwinding may prove market-moving.

The futures market is currently pricing in a 70 percent chance of an interest rate hike by RBNZ, although the central bank might leave the OCR unchanged at 8.00 percent for fear of triggering further exchange rate appreciation.
[B]RBNZ Intra-Quarter Policy Review[/B]
[B]RBNZ Official Cash Rate (JUL 26[/B])
Expected: 8.25%
Previous: 8.00%
No data was released.
[I]See DailyFX Weekly Calendar for more detail[/I].