New Zealand Dollar: Anchored expectations back RBNZ hikes – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes NZD/USD briefly dipped below its 200-day moving average as the Reserve Bank of New Zealand (RBNZ) Q3 inflation expectations survey showed mixed but well-anchored readings near the 2% midpoint.
Brown Brothers Harriman’s Elias Haddad observed that NZD/USD briefly fell below its 200-day moving average after the Reserve Bank of New Zealand (RBNZ) released its Q3 inflation expectations survey. The survey showed mixed but well-anchored readings near the 2% midpoint, indicating that inflation was still above the central bank’s target.
With domestic growth more favorable and the policy rate near the lower end of the neutral range, Haddad argued for additional RBNZ hikes, with swaps pricing in 75 basis points of tightening over the next twelve months to reach 3.25%.
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