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Trading news
27 Feb 2020
NZ finmin: government and RBNZ have scope to respond if needed due to virus
New Zealand's Finance Minister, Robertson, has said that the government and RBNZ have scope to respond if needed due to virus.
Key notes
- Risk of longer-term economic impacts from the virus.
- NZ economy is in a strong position to respond to the virus.
- The virus will have a serious impact short-term.
- It is responsible to plan for multiple scenarios.
FX implications
Market pricing for RBNZ implies a 30% chance of easing at the next meeting on 25 March, with a terminal rate of 0.68% (RBNZ OCR currently at 1.0%).
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NZD/USD refreshes four-month low under 0.6300 after New Zealand Trade Balance
Meanwhile, markets are turned into:
Watch Live: President Trump and members of the coronavirus Task Force hold a news conference