Economic Weekly: NZD outlook - firm with a chance of firmer

  • The RBNZ was on hold last week as expected and pushed out the timing of its first OCR hike by around six months.
  • However, the RBNZ’s statement wasn’t as cautious as financial markets had expected and this sent NZ interest rates higher following the announcement, taking the NZD with it.
  • On the whole, we expect the NZD to be stronger against all major crosses than we had forecast previously.

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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.