Reserve Bank of New Zealand (RBNZ) news

The Reserve Bank of New Zealand (RBNZ) is New Zealand's central bank. Its primary function is to maintain monetary and financial stability. The RBNZ uses various monetary policy tools to influence economic activity and support sustainable economic growth in New Zealand.

New Zealand dollar takes a tumble after RBNZ’s dovish tone

The New Zealand dollar is sharply lower on Wednesday. NZD/USD is trading at 0.6081 in the European session, down 0.72% on the day at the time of writing. RBNZ’s dovish tone raises rate cut expectations The Reserve Bank of New Zealand held the cash rate at 5.50% at today’s meeting, the eight consecutive time it has maintained rates.

10-07-2024 08:10 GMT by Kenneth Fisher

AUD/NZD: Kiwi torpedoed by a surprise dovish tilt from RBNZ

The Kiwi is the worst intraday performer among the major currencies as it slumped to a 4-week low against the US dollar. A dovish tilt in the latest RBNZ monetary policy statement has triggered a narrowing of the yield discount between the 2-year Australian and New Zealand government bonds. AUD/NZD has staged a medium-term bullish breakout above 1.1000 key support.

10-07-2024 08:04 GMT by Kelvin Wong