RBNZ to hold its firepower on Wednesday - Scotiabank

The Scotiabank analysts offer their expectations on Wednesday’s Reserve Bank of New Zealand’s (RBNZ) monetary policy announcement due at 0200 GMT.

Key Quotes:

”Unanimously expected to hold its official cash rate.

Inflation was last reported for Q2 back on July 15 at 1.7% y/y and below the 2% mid-point of the 1-3% target range. The Q3 inflation reading isn't due out until October 15th. 

Q2 GDP growth was recently released and slightly surpassed expectations.

The RBNZ may prefer to hold its firepower until it sees the next set of inflation readings. That could make November 12th the more likely 'live' meeting.”