|
|
|
Focus on RBNZ meeting (Thu, 5am SG/ KL time) early
tomorrow. We are expecting a 25bps cut, accompanied with a dovish
statement to elaborate that the door remains wide opened for more cuts.
We do not rule out the possibility for a bigger than 25bps cut. With
25bps cut 100% priced in, question remains how much surprise can RBNZ
deliver to send the Kiwi lower. RBNZ has been explicit in its intent for
a lower exchange rate (given that its exchange rate is 6% higher than
assumed on TWI basis)...
|
|
|
|
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.