The next RBNZ monetary policy decision, Monetary Policy Statement, and Governor Orr's media conference is on May 8.
Orr's recent publicly reported remarks have indicated
- a rate cut is on the cards
- no, it isn't
- yes it is
- no, it isn't
- ….. you get the picture.
And, for good measure, he has added in that he is not particularly concerned the market is confused about what he is saying.
Right then.
Coming up from NZ this week:
- ANZ business confidence on Tuesday April 30 … business confidence has been looooow, epic historical low levels
- Jobs data on Wednesday May 1 …. this will be a big data point, a once a quarter event from NZ. it includes data on labour costs (wages growth and such)
- Building approvals/consents, due Thursday May 2
The RBNZ meeting will be the first where the Bank's Governor does not make the sole decision. This has been the case up until now (of course the Governor consulted with staff and external parties but where the rubber hits the road it was his (or her … if the RBNZ ever had a female governor, they haven't yet) sole decision).
Here are the noobs on the 7 person committee(new committee so they are all noobs):
Governor Orr:
