19 Jun 2014
NZ GDP won't dissuade RBNZ from July rate hike - Westpac
FXStreet (Bali) - According to Westpac Global Strategy Group, today's NZ GDP numbers will do nothing to dissuade the Reserve Bank from its intention to continue hiking the OCR in its July review.
Key Quotes
"NZ Q1 GDP was released earlier. While the headline was a bit softer than we or the Reserve Bank had expected, taking revisions to previous quarters into account today's result still suggests that the economy had developed considerable momentum at the start of the year."
"Economic growth is now estimated to have been 1% or above for three quarters in a row. As such, today's numbers will do nothing to dissuade the Reserve Bank from its intention to continue hiking the OCR in its July review."
Key Quotes
"NZ Q1 GDP was released earlier. While the headline was a bit softer than we or the Reserve Bank had expected, taking revisions to previous quarters into account today's result still suggests that the economy had developed considerable momentum at the start of the year."
"Economic growth is now estimated to have been 1% or above for three quarters in a row. As such, today's numbers will do nothing to dissuade the Reserve Bank from its intention to continue hiking the OCR in its July review."