Highlights of the Nov 10, 2016 interest rate decision from the RBNZ
– Prior was 2.00%
– The OIS market was pricing in a 81.3% chance of a cut
– All 17 economists surveyed by Bloomberg were forecasting a cut
The New Zealand dollar was more subdued on the US election than some other trades, in part due to uncertainty about the RBNZ. The daily range was 0.7265 to 0.7395 with the pair slightly off the lows shortly before the decision.
