FXStreet (Delhi) - Sue Trinh, Senior Currency Strategist at RBC Capital Markets, lists down the main points of the recently released RBNZ’s six-monthly Financial Stability Report (FSR).
Key Quotes
“It noted that the risks to the financial system had increased due to the slowdown in the dairy industry and warned of a “damaging correction” in house prices. NZD jumped on these headlines as the market interpreted them as less dovish.”
“Our economists are happy with a terminal OCR forecast of 2.50%. They still see risks to the downside, but concede the FSR headlines reduce those risks a little.”
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