The NZD / USD is witnessing an aggressive short hedging move in reaction to the upbeat surprise from the RBNZ. The RBNZ indicated that it could gradually raise interest rates from the third quarter of 2022. A modest rally in US bond yields offers some support to the USD and limits the pair’s gains. The […]
Tag: RBNZ
Orr says price pressures on the economy are likely to be temporary
“Price pressures in the economy are likely to be temporary“, said the Governor of the Reserve Bank of New Zealand (RBNZ), Adrian Orr, while speaking in the press conference after the monetary policy decision on Wednesday. Key Comments: There are tentative signs of growing business investment. Do you feel comfortable using OCR projection as a […]
The economy is experiencing labor shortages and job slack
The minutes of the May meeting of the Reserve Bank of New Zealand (RBNZ) reveal that board members remain concerned about the country’s job market. Key Comments: Economic activity in New Zealand has returned to its pre-COVID-19 level. The medium-term growth outlook remains similar to the scenario presented in the February release. The Committee agreed […]
RBNZ maintains rate unchanged at 0.25%
The members of the board of the Reserve Bank of New Zealand (RBNZ) have decided to keep the Official Cash Rate (OCR) stable at a historic low of 0.25% at their May meeting, as unanimously expected. The RBNZ kept the size of its quantitative easing (QE) program at NZ $ 100 billion. The financing for […]
RBNZ leaves rates unchanged at 0.25%
The Bank of the New Zealand Reserve has left the Official Cash Rate (OCR) unchanged at 0.25%, as expected. Key comments in your monetary policy statement: The large-scale asset purchase program remains at NZ $ 100 billion. Funding for the loan program has not changed. You are prepared to reduce OCR if necessary. The monetary […]
Central bank expected to keep rates unchanged – UOB
The Reserve Bank of New Zealand is expected to hold the monetary policy rate at 0.25% at its meeting this week, says UOB Group economist Lee Sue Ann. Key statements: “For now, we think negative interest rates are a possibility, but increasingly lower.” “Our forecast remains for the OCR (interbank interest rate) to remain unchanged […]
NZD / USD testing key 0.7000 level after Tuesday’s sharp decline
NZD / USD is currently testing the key level of 0.7000, having fallen from above 0.7150.The recent New Zealand government announcement on housing is considered to have moderate implications for the RBNZ. Things have gone from bad to worse for the kiwi during Tuesday’s session. The NZD / USD has fallen from the initial Asia […]
NZD / USD strong reversal continues, but the pair finds support at 0.7250
The NZD / USD has sold more than 200 pips from Thursday’s highs above 0.7450. But the pair is finding support at the 0.7250 zone amid some technical confluences. ING believes that the NZD will outperform the AUD in the future given a less moderate RBNZ. Friday is seeing another sharp drop in NZD / […]
Orr says the central bank remains committed to providing more stimulus if needed
“The central bank remains committed to providing more stimulus if needed“said the Governor of the Reserve Bank of New Zealand (RBNZ) Adrian Orr while speaking in the press conference after the monetary policy decision on Wednesday. Additional comments: We want to keep all the stimulus options. I always talked about negative rates as an available […]
RBNZ keeps QE and rates unchanged
The Reserve Bank of New Zealand was not expected to announce any change in its monetary policy after today’s meeting and instead acknowledge that there is less need for monetary stimulus now than they thought in their November review. RBNZ Key Comments: OCR rate remains unchanged. The RBNZ maintains large-scale asset purchase program at NZ […]