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RBNZ: Cutting interest rates is not part of the short-term debate – Christian Hawkesby

He Deputy Governor of the Reserve Bank of New Zealand (RBNZ), Christian Hawkesbydeclared on Friday that “Cutting interest rates is not part of the short-term discussions“.

Featured Statements

Although short-term inflation risks are on the upside, we are confident that medium-term inflation will return to target.

No data alone will cause rates to rise, so domestic inflationary pressures and expectations will need to be monitored..

Much uncertainty about negotiable inflation in the future.

Market reaction

NZD/USD remains defensive near 0.6100 following these comments, down 0.11% on the day.

New Zealand Dollar prices today

The following table shows the percentage change of the New Zealand Dollar (NZD) against the currencies listed today. The New Zealand Dollar was the weakest currency against the US Dollar.

USD 0.06% 0.03% 0.14% 0.03% 0.13% 0.15% 0.08%
EUR -0.06% -0.01% 0.07% -0.05% 0.07% 0.10% 0.02%
GBP -0.03% 0.00% 0.08% -0.02% 0.09% 0.11% 0.02%
JPY -0.14% -0.07% -0.08% -0.09% -0.00% 0.02% -0.07%
CAD -0.03% 0.05% 0.02% 0.09% 0.09% 0.13% 0.04%
AUD -0.13% -0.07% -0.09% 0.00% -0.09% 0.02% -0.06%
NZD -0.15% -0.10% -0.11% -0.02% -0.13% -0.02% -0.09%
CHF -0.08% -0.02% -0.02% 0.07% -0.04% 0.06% 0.09%

The heat map shows the percentage changes of the major currencies against each other. The base currency is chosen in the left column, while the quote currency is chosen in the top row. For example, if you choose the New Zealand Dollar in the left column and scroll down the horizontal line to the US Dollar, the percentage change in the box will represent NZD (base)/USD (quote).

Source: Fx Street

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