ANZ says the NZD is vulnerable to very dovish RBNZ today

Reserve Bank of New Zealand monetary policy announcement is due at 0200GMT, news conference follows at 0300GMT.

Earlier:

• RBNZ monetary policy decision due today (Wednesday 12 August 2020) - preview

• RBNZ policy meeting this week - preview (and where to for the NZD)

• RBNZ monetary policy meeting this week - fewer 'shadow board' members consider further stimulus appropriate

• RBNZ monetary policy decision due this week - preview

ANZ:

• community transmission of coronavirus "moves the risks dial even more in favour of our view that the RBNZ will look to do more rather than less, signaling they will do whatever is necessary to support the economy"
• If the statement from the Bank re-iterates keeping all their options open on all fronts, this would add to the dovishness
• ANZ look for the RBNZ's Large Scale Asset Purchases program to be increased to NZ$75b over 12 months, or perhaps as high as to NZ$90b over 18 months,