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Daily Alert: A hawk in dove’s plumage

  • Given all the uncertainty, the RBNZ opted to keep the OCR on hold yesterday – but the tone of the statement clearly suggests it was planning a hike before the community case bombshell.
  • From here, the speed of any tightening clearly hinges on the events of this lockdown.
  • No major data out in NZ today – instead its further developments on the COVID community cluster front that will be in the driver’s seat.

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