Economic Weekly: Dovish RBNZ takes market by surprise

  • In last week’s August Monetary Policy Statement (MPS), the RBNZ surprised ourselves and the market by delaying its forecast rate hikes by 12 months to late 2020/early 2021.
  • We discuss the August MPS in more detail on Page 2.
  • Offshore, contagion concerns stemming from the recent sharp fall in the value of the Turkish Lira and heightened trade tensions between the US, China and Eurozone will be front of mind this week.

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Mark Smith

Senior Economist

Mark joined ASB in 2017, with over 20 years of public and private sector experience working as an economist in New Zealand and the UK.

His resume includes lengthy stints at ANZ and the Reserve Bank of New Zealand, and he has also worked at the Bank of England, HM Treasury and the New Zealand Transport Agency. Mark's areas of specialisation include interest rate strategy, macro-economic analysis and urban economics.

Born and bred in the Waikato, Mark studied at Waikato University where he graduated with a Master of Social Sciences, majoring in Economics.

Mark's key strengths are the ability to use his extensive experience, inquisitive nature, analytical ability, creativity and pragmatism to dig a little deeper and to deliver common sense solutions to tackle complex problems.

When not at work Mark likes to travel, keep fit and spend time with his friends and family.