Daily Alert: Central bankers keep foot on the gas pedal

  • As was widely expected, the Bank of England held current policy settings, with the bank rate at a historic low 0.1%.
  • There were a number of other comments by global central bankers – including RBA Deputy Governor Debelle – which highlighted that policy makers were closely watching domestic and global developments.
  • Locally, the RBNZ NZ Survey of Expectations (3pm) will likely show a firming in one- and two-year ahead inflation expectations towards (or slightly above) 2%, but we anticipate that longer-term inflation expectations will stay anchored close to 2%.

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