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 spikes after RBNZ decision

RBNZ holds rates but sends a hawkish message NZD/USD spikes 1% higher but pares gains The New Zealand dollar surged 1% on Wednesday but has surrendered most of the gains. In the European session, NZD/USD is trading at 0.6149, up 0.20%. RBNZ delivers a hawkish hold The Reserve Bank of New Zealand maintained the cash rate at 5.5% for a fourth straight time, as expected.

29-11-2023 06:09 GMT by Kenneth Fisher

NZD/USD: RBNZ fired a hawkish missile

RBNZ has maintained the OCR at 5.50% for the fourth consecutive time and matched market consensus. Hawkish forward guidance by RBNZ where its latest projected terminal rate of the OCR has been revised upwards to 5.69% (Sep 2024) from 5.57% projected earlier in the August 2023 MPS. The Kiwi rallied by +0.90% intraday against the US dollar and outperformed other major currencies. No clear signs of bullish exhaustion in NZD/USD from a technical analysis perspective.

29-11-2023 01:43 GMT by Kelvin Wong