Hawkish RBNZ may encourage AUD/NZD to extend its recent decline – Rabobank

Market news

23 May 2023

Hawkish RBNZ may encourage AUD/NZD to extend its recent decline – Rabobank

Economists at Rabobank discuss AUD/NZD outlook ahead of the Reserve Bank of New Zealand (RBNZ) meeting.

AUD/NZD to turn higher over the medium-term

“Hawkish commentary from the RBNZ this week could encourage a move in the AUD/NZD pair towards the 1.05 area near-term. That said, we favour Australia’s fundamentals over those of New Zealand and expect AUD/NZD to turn higher over the medium-term.”

“We maintain our 12-month forecast of AUD/NZD 1.13.”

See – Reserve Bank of New Zealand: Banks Preview, more surprises in store?

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