Westpac Auckland strategist Imre Speizer called the RBNZ’s decision to hold
surprising, saying the bank remains cautious on a potentially stubborn
medium-term inflation outlook and is seeking more evidence. He said the RBNZ
still flags further tightening and that inflation risks are skewed to the
upside, keeping its stance aligned with major central banks. ANZ MOOMOO Auckland
strategist Tina Teng said the bank faces a trade-off between slower growth and
energy-driven inflation: global risks — notably an oil-price spike and weaker
growth — could pressure corporate profits and exports. A softer NZD supports
exporters but raises import costs, feeding upward pressure on domestic
inflation.
