AUD/NZD updates monthly low after RBNZ’s 50 basis point rate hike. The clear break of the 100 DMA and the rising trend line from the end of May favors the sellers. The bulls need validation of a fifteen day resistance line to regain control. The AUD/NZD is on slippery ground after the Reserve Bank of […]
Tag: RBNZ
NZD/USD advances towards 0.6400 after RBNZ rate hike of 50 basis points
NZD/USD rebounds to two-day highs after RBNZ rate hike. The entity agrees with market forecasts of a rate hike of 50 basis points, and indicates the convenience of further tightening. Declines in US Treasury yields resume, lightly bid stock futures put antipodal downward pressure. The Chinese premier’s comments and a softer New Zealand PPI provoked […]
The RBNZ raises its interest rates by 50 basis points to 3% and anticipates more increases
The The Monetary Policy Committee has today increased the official interest rate on cash (OCR) from 2.5% to 3%, meeting expectations of a 50 basis point rise. This is the seventh consecutive increase in rates, reaching their highest level since 2015. Reserve Bank of New Zealand statement Demand from the New Zealand economy has been […]
NZD/USD sinks below 0.6400 ahead of RBNZ decision
NZD/USD falls from last week’s highs around 0.6468 on risk aversion. The looming economic slowdown in China and the disappointing New York Fed Empire State Index underpin the US dollar. The Reserve Bank of New Zealand is expected to raise rates by 50 basis points on Wednesday. NZD/USD breaks five days of gains and falls […]
RBNZ: Inflation expectations lowered modestly, 0.50% rise expected next week – Goldman Sachs
Analysts at Goldman Sachs point out that they maintain their forecast of a rate hike of 50 basis points by the Reserve Bank of New Zealand next week, despite a modest easing of third-quarter inflation expectations. Featured Comments “The RBNZ survey of inflation expectations for the third quarter of 2022 showed a modest relaxation of […]
New Zealand: RBNZ Aims to Hike Rates Further on Record High Inflation – UOB
UOB Group economist Lee Sue Ann assesses the latest inflation figures for New Zealand. Key Statements: “The CPI rose 1.7% quarter-on-quarter in the first quarter of 2012, slightly less than the 1.8% in the first quarter of 2022, but above expectations of a 1.5% increase. Compared with the same period of the previous year , […]
NZD/USD hovers around 0.6150 despite high New Zealand inflation
NZ Inflation Beat RBNZ & Economists Expectations, Will Bank Hike 75bps? Sentiment changed mixed following Apple’s report that hiring will slow, reigniting concerns about the US recession among investors. ANZ Bank expects the RBNZ overnight rate (OCR) to end at 4% instead of 3.5%. The NZD/USD It barely posted any gains on Monday, thanks to […]
NZD/USD nears previous day’s highs, lacks continuation ahead of US CPI.
NZD/USD reverses post RBNZ decline to 0.6100 zone amid subdued demand around USD. Signs of stability in the markets weigh on the USD and offer support to the perceived riskier NZD. Expectations for an aggressive rate hike from the Fed benefit the USD and cap the pair ahead of the US CPI report. The pair […]
RBNZ Minutes: Committee agreed to maintain focus on vigorously raising OCR
In minutes published alongside the monetary policy statement, the Reserve Bank of New Zealand (RBNZ) has noted that the “committee agreed to maintain its approach to vigorously raising the OCR“. Additional comments Members noted that the New Zealand dollar exchange rate has depreciated The Committee noted that the weakening of the New Zealand dollar continues […]
RBNZ raises OCR by 50 basis points to 2.5%
At its monetary policy meeting on July 13, the Reserve Bank of New Zealand (RBNZ) announced a 50 basis point increase in the Official Cash Rate (OCR), raising it from 2% to 2.5%, as expected widely. The RBNZ has stated: “The Committee agreed that it remains appropriate to continue to tighten monetary conditions at the […]