NZIER recommended RBNZ to stay hold

Markets await the RBNZ this week - no action is expected from the Bank.

The New Zealand Institute of Economic Research (NZIER), or 'Shadow Board', that share their view ahead of each monetary policy decision recommended that the Reserve Bank should leave the Official Cash Rate on hold.

"While the Shadow Board saw both upside and downside risks to the interest rate outlook, the general view was that a bias towards tightening was appropriate," - NZIER

NZD/USD: headed to 0.7275 on the session ahead?

RBNZ: searching for inflation - ANZ