New Zealand - RBNZ keeps the faith in optimistic forecasts

The Reserve Bank of New Zealand kept the faith in its relatively optimistic forecasts for the economy while leaving interest rates at 1.75% for the 22^nd month today, but you could argue that the policy statement sounded a bit more dovish. Our view that GDP growth will slow rather than accelerate suggests the Bank may not raise interest rates until late in 2021 and that the New Zealand dollar may weaken from US$0.67 now to around US$0.60 next year.