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NZD: unjustifiably or understandably high?

RBNZ leaves the Official Cash Rate (OCR) on hold at 2%, as widely expected.

A clear easing bias has been retained and we expect the RBNZ will cut the OCR in November to 1.75%.

Risks are still skewed to a further cut in 2017.

Economic research - Access trends and financial news | ASB Economic Note NZD: unjustifiably or understandably high?