As widely expected, the RBNZ retained the OCR at 2.25%. There was no vote, with the decision reached by consensus. The commentary was hawkish as concerns of rising second-round inflation pressures were quite prominent. The MPC debated the options of an earlier vs later beginning to interest rate normalisation. Interest rate cuts were not discussed. […]
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USD/JPY is holding near 156.83 on Friday. Despite heightened volatility in recent sessions, the yen is set to end the week broadly unchanged. Fears of intervention and Tokyo’s firm rhetoric have failed to support a Read more…
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In focus today The key release today is the US April jobs report. We expect a solid report with NFP growth of 80k and unemployment rate unchanged at 4.3%. High-frequency indicators have generally been strong Read more…