RBNZ has been very candid, targetting 0.67 - Rabobank

The RBNZ has been very candid regarding its warnings of further easing.  

Key Quotes:

"In June it warned that “further policy easing may be required” and in its policy update in July it repeated that easing was a strong possibility.

Partly in order to deter the attraction of the carry trade, following a move in June, there is scope for the RBNZ to cut rates potentially twice move this year.

We see scope for NZD/USD to 0.67 on a 12 mth view, though this assumes a December rate hike from the Federal Reserve."