The Reserve Bank of New Zealand (RBNZ) will be publishing its decision on short-term interest rates later in today’s trading session. The report and subsequent rate statement are scheduled to be announced around 22:00 GMT Wednesday.
Interest rates have gained prominence in many investment circles lately with attention shifting towards the differential between the United States and Europe. What have gone mildly unnoticed are the shifts in sentiment towards rate hikes in the Pacific economies since early March. Many analysts at the beginning of the year were expecting hawkish movement by such Pacific giants as Australia and New Zealand, yet the mood appears to have shifted to hesitation and doubt. Today’s rate statement may shed light on why this may be and is worth paying attention to.
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