Recent data give us no reason to expect the RBNZ to departfrom the plans it set out in June. Those plans include afollow-up hike in July, but also suggest a subsequent periodof ‘taking stock’. In our view, that raises the risk of a renewedbout of market scepticism about the RBNZ’s longer-termOCR forecasts – meaning that the recent opportunity forborrowers to lock in favourable rates may not be the last.
Read the full report: Market Research