By eFXdata — Mar 16 - 10:45 AM
Citi summarizes its expectations for the RBA and the RBNZ policy trajectory in April.
"AUD: The February unemployment rate fell to 3.5% vs 3.6% consensus, which Citi Economics think should tip the balance at the April RBA Board meeting to another +25bp move in April, as well as keep optionality for further hikes," Citi notes.
"NZD: From here, Citi Economics thinks that the RBNZ now needs to pull back from guidance towards 5.50% on the OCR. They retain their view for one further 25bp hike to 5.00% but no more," Citi adds.
Citi Research/Market Commentary