eFXdata reports that Citi discusses its expectations for the RBA and the RBNZ policy trajectory throughout this year.

"Citi analysts still expect the RBA will need to provide more stimulus to the economy but push their 25bp rate cut forecast from February to May 2020. This is now in line with current market pricing," Citi notes.

"With activity indicators being on balance better than expected, some improvement in the outlook for global trading partners and CPI inflation higher than expected and importantly above the RBNZ's forecast, Citi analysts retain their forecast for no change to the OCR this year," Citi adds.