After a very quiet New Zealand data week, we’ve decided to step back and review the three big themes of the past month – the increasingly strong tone of the New Zealand economic data, the fall in the NZ dollar, and the RBNZ’s growing determination to proceed with loan-to-value ratio restrictions for new mortgages. Our conclusion is that they amount to a more hawkish RBNZ – but not to rate hikes this year.
Read the full report: FX Research
Westpac