OIS pricing 34% odds of an RBNZ rate cut in February

The overnight index swaps are reportedly pricing nearly 34% probability that the Reserve Bank of New Zealand (RBNZ) will cut the interest rate at its next meeting in February 2020. 

The central bank in August surprised markets by cutting rates by 50 basis points to 1% and has kept rates unchanged ever since. 

The NZD/USD pair is currently trading at 0.6420, representing a 0.30% gain on the day.