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.

Video - NZD/USD rallies after weaker US jobs data and a hawkish RBNZ

OANDA Senior Market Analyst Craig Erlam looks ahead to the US jobs report after JOLTS job openings came in softer than expected, talks about the RBNZ decision to hike by 50 basis points, and gives his analysis on the NZDUSD chart.

05-04-2023 17:27 GMT by Craig Erlam

NZD/USD surges briefly after RBNZ hikes by 50 basis points

The New Zealand dollar is showing sharp movement on Wednesday after the Reserve Bank of New Zealand shocked the markets and raised rates by 50 basis points. In the US, JOLTS Jobs Openings was below expectations, raising concerns about the strength of the US labour market. In the European session, NZD/USD is trading at 0.6296, down 0.24%. RBNZ stuns markets with oversize hike The RBNZ gets the prize for shocker of the week, after the central bank delivered a 50-bp hike.

05-04-2023 06:58 GMT by Kenneth Fisher