The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.
* RBNZ’s more upbeat assessment and neutral bias, instantly reflected in a higher Kiwi
– Cited fiscal policy spend up as a reason for change in Monetary Policy outlook
– Described employment as “at or slightly above” maximum sustainable level
– Inflation has gone from “below” to “close to” the targeted level
– Mentioned signs of stronger consumer spending, higher GDP and improved labour market
– Bottom line rates on hold…