Markets await the Reserve Bank of New Zealand?s interest rate announcement and anticipations of an interest rate hike, or continued hawkish stance by the RBNZ at the very least, are driving the markets.
Results of a Bloomberg survey indicate that 12 of the 16 analysts polled expect a hike in the official cash rate tomorrow. Similarly, a Credit Suisse index based on interest rate swaps places the probability of an interest rate increase at 61 percent, a marked rise from the reading of 26 percent two weeks ago. However, after the Kiwi dollar surged to 0.8110 USD in Tuesday?s session in Wellington, there was a reduction in the extent to which the rate increase was priced in by the wholesale interest rate market.
[B]RBNZ Intra-Quarter Policy Review[/B]
[B]RBNZ Official Cash Rate[/B]
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