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FOREX CENTRAL BANK WATCH: RBNZ Interest Rate Expectations Fall on Unemployment Report

FOREX CENTRAL BANK WATCH: RBNZ Interest Rate Expectations Fall on Unemployment Report

2011-02-02 01:52:00
DailyFX Research,
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Central Bank

Current

Interest Rate

Next Policy

Decision Expectation

Market Conviction*

1-yr Exp**

Federal Reserve

0.00% - 0.25%

No change on 03/15

High

+23bps

European Central Bank

1.00%

No change on 02/03

High

+88bps

Bank of England

0.50%

No change on 02/10

High

+76bps

Swiss National Bank

0.25%

No change on 03/17

High

+30bps

Reserve Bank of Australia

4.75%

No change on 03/01

High

+29bps

Bank of Canada

1.00%

No change on 03/01

High

+61bps

Reserve Bank of

New Zealand

3.00%

No change on 03/09

High

+57bps

Bank of Japan

0.10%

No change on 02/15

High

+3bps

*Market Conviction is based on Overnight Index Swaps. A higher level of conviction implies a greater likelihood that the next policy decision expectation is accurate.

**Represents the number of basis points interest rates are expected to rise or fall over the next year.

Daily Update: Interest rate expectations are mixed, with those for the ECB and BOE continuing to rise, while those for the RBNZ fall back after a disappointing report on the New Zealand labor market. Ahead of the ECB monetary policy decision, markets now expect three or more rate hikes from the central bank over the course of the next twelve months.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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