RBNZ: the bottom line - ANZ

Analysts at ANZ offered the key points from today's RBNZ interest rate meeting.

Key Quotes:

"The RBNZ stuck to its guns this morning, delivering a very similar statement to June.

 It is clear that it sees the need for a strong domestic economy to offset tradable inflation weakness.

This means that hikes are a long way off and its stance is ultra- neutral, although there was a hat-tip within the forecasts to the next move in rates being up.

Our OCR forecasts are under review as we weigh up structural inflation suppressants versus capacity and NZD prospects."