RBNZ: next move could be up or down - UOB
Analysts at UOB group noted that the Reserve Bank of New Zealand (RBNZ) kept its official cash rate (OCR) unchanged at 1.75%, as widely expected.
Key Quotes:
"The RBNZ maintained that monetary policy will remain accommodative for a considerable period.
Domestic economic growth is projected to strengthen while labour market conditions will continue to tighten. On the currency, the RBNZ said the NZD has firmed and assumes it will ease in the period ahead.
In the accompanying press conference, RBNZ Governor Spencer said there is no reason to alter OCR forecasts in light of recent equity volatility. The RBNZ continues to sees OCR at 1.8% in March 2019 and 1.9% in June 2019.
He said the next interest rate move could be up or down. He is also not concerned about the NZD and is comfortable with where it is."