Weakness in the NZD is being seen on the comments from Ha.
- The central bank would like a weaker fx rate.
- The negative rate is a policy option, but not inevitable.
- RBNZ wants lower bond yields.
- New bond-buying targets meant to signal that intent.
The bird is under pressure as the bears start to stack their chips for downside bets.
The RBNZ has already highlighted on more than one occasion the currency's negative impact on imports.
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