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The Reserve Bank of Australia met market expectations in its first statement on monetary policy of 2022, confirming the imminent end of bond purchases and taking a markedly more positive tone on the economic outlook. But analysts interpret the lack of a move to a more aggressive rate hiking cycle as a more dovish tone than the reserve bank could have taken, pushing back higher rate expectations to the second half of the year.
Early-year supranational, sovereign and agency deal flow in the Kauri market demonstrates the attractiveness of New Zealand issuance to global borrowers, as deal sources say each of the three transactions completed by late January provided a positive outcome for its issuer.
Supranational, sovereign and agency borrowers provided the only deal flow in the week ending 28 January. Rentenbank priced a NZ$450 million (US$296.3 million) Kauri while KBN and KfW printed A$100 million (US$70.4 million) Kangaroos.