Next Reserve Bank of New Zealand decision
November RBNZ meeting review
RBNZ keeps rates unchanged at 1.75%
The Reserve Bank of New Zealand (RBNZ) said that it would leave the official cash rate unchanged at 1.75% in a decision that was widely expected, stating that monetary policy will remain accommodative for a considerable period.
NZD/USD spiked 30 pips on the back of the RBNZ on hold, leaving the Official Cash Rate (OCR) unchanged at 1.75 percent forecasting rates rising in Q2 2019 vs Q3 previously, hence the bid. Currently, NZD/USD is trading at 0.6947, up 0.60% on the day, having posted a daily high at 0.6965 and low at 0.6897.
Following its decision to leave the official cash rate unchanged at 1.75%, the Reserve Bank of New Zealand (RBNZ) published its updated forecasts, with key highlights. O
What is the RBNZ
The Reserve Bank of New Zealand is New Zealand's central bank. Like most central banks, the Reserve Bank is primarily a policy organisation, and exists to do three main things: formulate and implement monetary policy to maintain price stability, promote the maintenance of a sound and efficient financial system and meet the currency needs of the public.
Who is RBNZ's president?
Neil Quigley’s term as Chair is effective from 23 September 2016. Professor Quigley is Vice-Chancellor of the University of Waikato, and has previously held roles as a Professor of Economics and senior manager at Victoria University of Wellington and the University of Western Ontario in Canada. He was first appointed to the Reserve Bank Board in 2010.
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The World Interest Rates Table
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.