While central banks beat the retreat with tails between their legs all over the place;
- The FOMC has been going to us everywhere for the last few hours
- RBA changes from hawkish to neutral
- BOJ… Well, as if it was nothing but a dove to the maximum
In this way, the RBNZ remained relatively positive. I'm not going to say that Governor Orr knew about it, but he was stronger than his CB Gov bros.
While NZ GDP was erroneous compared to last year, q / q was in line with estimates.
Orr will not be unhappy and this will make it impossible to reduce the RBNZ speed a little further. GDP claims are subject to customary objections…. it is 3 months ago!
NZD settles a little overnight, as I said in my previous… be careful, there's a lot or work to do here: