Markets were expecting RBNZ to signal its first rate hike from late-2019 to early 2018 but RBNZ made no shift. In

GBL: NZD Tanked

Global Markets Daily by Saktiandi Supaat

FX Research

Markets were expecting RBNZ to signal its first rate hike from late-2019 to early 2018 but RBNZ made no shift. In addition, RBNZ said the recent uptick in CPI is temporary and due to petrol and food prices. Core inflation, wage growth and house prices remain moderate. RBNZ’s Wheeler sounded “pleased” with the decline in NZD – noted that the 5% decline in TWI since Feb is encouraging and if sustained, will help to rebalance the growth outlook towards the tradables sector...