RBNZ expected to leave the Official Cash Rate (OCR) at 1.75% - TDS

Analysts at TDS expect that the RBNZ is unanimously expected to leave the Official Cash Rate (OCR) at 1.75% on Thursday.

Key Quotes

“The Bank also updates, inter alia, its GDP, CPI and OCR projections. At its 23 March OCR Review, the Bank noted a temporary dip in Q4 GDP (so expect near-term downward revisions) and expected Q1 CPI to spike on food and fuel (so expect near-term upward revisions). We expect the medium-term outlook, however, to remain all but unchanged.”

“After noting the 1.75% cash rate remaining unchanged, the market will then turn to the Bank’s cash rate profile, i.e. has the first cash rate increase been brought forward and by how much?”