RBNZ To Hike In August

That's the verdict after an extremely hawkish meeting overnight.

Expectations were already high that they would talk about tapering and potentially hike rates as soon as November.

Instead, the RBNZ announced an end to QE (taking effect July 23rd) and OIS markets are now pricing a 70% chance of a hike at the August meeting, and a 42% chance of two hikes by the November meeting.

NZD is up 1% vs the dollar and 0.75% vs the AUD.

ANZ Summarised Review:

Ending LSAP clears the way for an August hike

• The Reserve Bank today announced that its purchases of

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Tim Vollans

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