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We expect the RBNZ to leave the OCR at 5.5%. We expect a short statement as with the April Review. The RBNZ will emphasise the upside risks to consumer spending and inflation emanating from the less contractionary than expected Budget 2024. But they will balance this with some dovish messages associated with potential downside risks […]

The post Preview of RBNZ: Keeping It Tight appeared first on Action Forex.

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14/12/2023

Bank of England Hawks Extend the Pound’s Rally

The Fed’s dovish attitude, for now, hasn’t extended too far into Europe. The Bank of England kept its key rate unchanged at 5.25%, with three of the nine members voting in favour of a quarter-point hike. In a commentary on the decision, the Bank of England emphasised that it is not yet certain that inflation […]
29/05/2024

Will Core PCE Inflation Spur a Less Hawkish Fed?

Hopes that PCE inflation will point to some further moderation But would that be enough for the Fed to ease its hawkish stance? US dollar drifts lower ahead of the crucial data due Friday, 12:30 GMT The stakes are high as Fed meeting approaches After months of hotter-than-expected inflation prints, there was finally some good […]
07/06/2024

Time for the Spakfilla?

The national accounts confirmed that demand growth remained soft. Revisions to past tourism spending have no implications for future inflation but underline that weak supply is still an issue. This week’s national accounts confirm that the Australian economy is still soft. Domestic demand has limped along at a quarterly pace of 0.1–0.2% for a couple […]