Friday, May 14, 2021
23.1 C
Friday, May 14, 2021

Reserve Bank of New Zealand monetary policy decision due today

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0200 GMT RBNZ announcement and Monetary Policy Statement

0300GMT brings Governor Orr’s press conference

Consensus expectation is for the Bank to leave the cash rate (OCR) at 0.25%. At its March meeting the Bank said:

  • the OCR “will remain at this level for at least the next 12 months”

There will be a focus on whether the RBNZ has changed this view. The Bank may hint rate cuts are still on the agenda ahead. 

On QE, there are expectations the prgramme size will be increased, from current 33bn NZD to around 60bn. 

RBNZ Monetary Policy Statement

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