RBNZ urged to lift cash rate to 3% as oil and kiwi decline fuel inflation risks
Most NZIER Shadow Board members recommend RBNZ hike to 3% in October, citing oil and weak NZD; some prefer pause.
Japan's services PPI data due Tuesday; reading at 3.7% or higher would bolster December BoJ hike pricing and modestly support yen and short-dated JGB yields…
Although the services PPI typically does not move the yen significantly on its own, a figure at or above 3.7% would be seen as reinforcing December hike pricing. This would lend modest support to the yen and short-dated JGB yields heading into Friday's Bank of Japan decision.
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