[10:00 AM, 8/4/2021] +65 3165 7233: ① Interest rate level: keeping the cash rate unchanged at 0.1% and maintaining the 3-year bond yield target of 0.1%; The actual inflation rate will not increase until the real inflation rate remains within the target range of 2-3%.
② Monetary Policy: Committed to maintaining highly accommodative monetary conditions, continuing to buy government bonds at A$5 billion a week until early September, and then $4 billion Australia a week, at least until mid-November
③ Interest rate hike expectations: Interest rate hike conditions will not be met before 2024
④ GDP Expectations: GDP will contract in Q9, with a slightly more than 4% growth in 2022 and around 2.5% growth in 2023.
⑤ Inflation expectations: inflation rate in 2022 will be 1.75%, in 2023 it will be 2.25%
⑥ Expected unemployment rate: Will fall to around 4.25% by the end of 2022 and around 4% by the end of 2023
[10:01 AM, 8/4/2021] +65 3165 7233: Market Analysis: With the release of the latest New Zealand jobs report -The data is very positive. The market for bets on a Federal Reserve rate hike has increased. The Reserve Bank of New Zealand is expected to raise interest rates to 1% before the end of the year.
After the data was released the NZD was supported to increase.
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