RBA wait and see
NAB Morning Call
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The RBNZ's Next Move Is Likely to Be Down Rather Than Up
The Aussie initially down. It was down close to 0.7% at one point off that decision in an intraday low of around 66.40, but it has retraced and over the day is about 0.3% higher. Catching attention in the detail of that survey was really just a range of indicators suggesting that some of those capacity pressures in the New Zealand economy are easing. And so suggesting that the monetary policy tightening is getting bite there. That will support the outlook for disinflation and suggests that the RBNZ is probably done at these levels. Right.
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