RBNZ's next move second half of 2018? - UOB

Analysts at UOB Group explained that the Reserve Bank of New Zealand (RBNZ) left the Official Cash Rate (OCR) on hold at 1.75%, as expected.

Key Quotes:

"The accompanying statement suggested little changes in the Bank’s broadly neutral bias.

Overall, we think the RBNZ appears more comfortable with the inflation and exchange rate profile which gives the bank scope to maintain a neutral policy for now and await both domestic and global developments.

There is nothing to alter our view on the forward path of the OCR.

We see the next move as a hike, but not until the second half of 2018."