With a new Governor and a new Policy Targets Agreement, Thursday’s RBNZ Monetary Policy Statement will be the much-anticipated event of the week. We are not expecting any changes to policy settings or changes to the tone of the statement.
Offshore, the Bank of England rate announcement is the key event.
Until recently, markets had expected a May rate hike. However, recent soft economic data have put BoE rate hike expectations on ice for now.
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