RBNZ set to hold as it looks through oil shock, watches inflation persistence risks

The expected hold from the Reserve Bank of New Zealand should land as modestly dovish relative to current market pricing, particularly if policymakers push back on expectations for multiple rate hikes this year, which could weigh slightly on the NZD and pull front-end yields lower as traders reassess the policy path; at the same time, a measured “look-through”… RBNZ seen on hold as it navigates oil-driven inflation shock while signalling patience on policy tightening. . Due at 0200 GMT / 2200 US Eastern time Summary: . RBNZ seen on hold as it navigates oil-driven inflation shock while signalling patience on policy tightening. Due at 0200 GMT / 2200 US Eastern time Summary: RBNZ expected to hold OCR at 2.25% amid energy-driven inflation shock Policymakers likely to look through near-term inflation but watch for persistence Communication to balance avoiding overtightening vs maintaining inflation credibility Domestic slack seen limiting second-round inflation risks No new forecasts, but guidance may… For traders, releases like this can quickly shift rate expectations, currency direction, index futures and broad risk sentiment. Watch the next move in the dollar, front-end yields and index futures to see whether the market prices this release as a true surprise or only a passing headline.