MARKET OPEN: Global risk appetite may spur buying; RBNZ in focus

Wed, 24 Jun 2020

New Zealand’s financial markets may be in for a positive day after better-than-expected US data, but the main focus will be on the NZ central bank’s rate decision and statement. The RBNZ is widely expected to keep rates on hold at 0.25 percent at 2pm local time and “may sound more positive about the near-term outlook” after lockdown restrictions were eased earlier than previously expected, said ASB Bank chief economist Nick Tuffley. However, “we expect the RBNZ will continue to stress that it will take further action as needed, including...

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