• A reluctant hiking bias, still, at Thursday’s MPS?
• We retain March-hike view and hawkish tilt
• We judge Q1 manufacturing output up 1.1%
• Trimming GDP growth pick to 0.6%, from 0.7%
• May’s Paymark data keep our ECT view at 0.5%
• Friday’s PMI, FPI, complete the data week
We know the Reserve Bank, in setting its Official Cash Rate (OCR), is portraying a grand trade-off between a high exchange rate and a housing bubble. But step back a bit, from this supposed conundrum, for just a moment, and …
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BNZ