RBNZ Rate DecisionReserve Bank Of New Zealand
Interest rate decision:
The Consumer Price Index CPI rose by 7.2% in September 2022, it's fall from August's print but still higher than experts thought which the consensus is 6.5.
Economists expect the Reserve Bank of New Zealand to lift the cash rate by a record 75bps while money markets wager a roughly 65% probability for the biggest ever rate point hike this month.
Guys my take on this rate saga are:
I'm bullish with NZDJPY, NZDUSD, NZDCHF, if the bank increase its OCR by 75bps.
I'm bearish with NZDJPY, NZDUSD, NZDCHF, if the bank increase its OCR by only 50bps.
Because the New Zealand Dollar needs an upward revision to the Bank's rate hike trajectory and Hawkish rhetoric from the governor Adrian Orr to resume it's March towards 0.6250 against US Dollar.
