New Zealand Weekly Data Wrap

The report highlights that a sharp decline in oil prices and resilient Q1 GDP have prompted an adjustment in RBNZ outlook, favoring a lower terminal OCR rate despite expected near-term hikes.

Key Takeaways

• 1.Oil price declines following a US-Iran deal are easing inflation pressure on the RBNZ.
• 2.Q1 GDP growth at 0.8% exceeded expectations, showing more resilience than previously estimated.
• 3.Despite the oil price shock, a 25bp OCR hike in July remains the base case expectation.

Table of Contents

• ANZ Proprietary data
• Key forecasts and rates
• Lower inflation and higher growth
• NZ Economic News
• Data calendar
• Interest rate markets
• FX markets
• The week ahead
• Key Forecasts and Rates
• Meet the team
• Important Notice

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial