Economic calendar Asia Wednesday, April 9, 2025: BoJ Ueda speaking, RBNZ policy decision

I posted a couple of previews of the Reserve Bank of New Zealand decision due today:

• RBNZ Shadow Board recommends a rate cut this week
• Global turmoil raises chances of larger RBNZ rate cut

Also:

• Weekly Market Outlook (07-11 April)
• Newsquawk Week Ahead: US & China CPI, FOMC Minutes, RBNZ, US Earnings Season, UK GDP
• Weekly Market Outlook (07-11 April)

The Reserve Bank of New Zealand is widely expected to cut by 25bp. On balance I am looking for a 50bp rate cuit, the RBNZ tends to be action-oriented rather than navel gazers. The only niggle I have with this call is that in March RBNZ Governor Orr abruptly resigned leaving a ‘caretaker’ governor in place. This might make the Bank timid of going hard. Dunno. Stay tuned.

We hear from Bank of Japan Governor Ueda later. Ueda is to deliver a speech at the annual trust association meeting.

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As an aside, something that doesn’t appear on the calendar but that happens every day (unless it’s a Chinese holiday) is the PBOC CNY reference rate setting for the trading session. The Bank has been chipping the CNY lower with this. The prospect of a much larger cut in the CNY is live, though.

This article was written by Eamonn Sheridan at www.forexlive.com.