Thomas Mathews, head of Asia-Pacific markets at Capital Economics in Wellington, said the RBNZ appears to have merely delayed tightening rather than abandoned it and is likely to resume in the near term. Given the current economic backdrop, market pricing looks somewhat aggressive; further dovish surprises and additional NZD weakness would not be surprising.

2026-10-28

Thomas Mathews, head of Asia-Pacific markets at Capital Economics in Wellington, said the RBNZ appears to have merely delayed tightening rather than abandoned it and is likely to resume in the near term. Given the current economic backdrop, market pricing looks somewhat aggressive; further dovish surprises and additional NZD weakness would not be surprising.