What is your preview on Reserve Bank of New Zealand Interest rate 18 Aug 2021 ?

[MongiIG]

Reserve Bank of New Zealand: To hike or not to hike amid fresh covid lockdown 

According to markets there is still an 85% chance that the RBNZ will raise rates by 25bps, but the reaction by the NZ govt to go into a countrywide lockdown, on ONE Covid case, is creating bit of a panic in the NZ bond markets and in the Kiwi itself -

 

NZDUSD

 

 

 

NZDJPY

 

 

Kiwi is even falling vs AUD which is itself very weak TODAY

RBNZ rate decision at 3am UK time, Wednesday, with a press conference an hour later.

 

 

 

How is NZD/USD positioned technically or any other pair with NZD ? Share your analysis and thoughts.

 

All the best MongiIG

[MongiIG]

NEW ZEALAND

The Reserve Bank of New Zealand kept its benchmark cash rate at a record-low 0.25% on Wednesday while it waits to see where a nascent COVID-19 outbreak will lead for the economy.

It still thinks rates are rising soon, though, and published an aggressive outlook forecasting the cash rate above 0.5% by the end of this year over 2% in 2024.