The Reserve Bank of New Zealand (RBNZ) board members decided to keep the Official Cash Rate (OCR) steady at a record low of 0.25% in May, as unanimously expected.
RBNZ holds rates at 0.25%, maintains QE
LATEST MOVES OF THE RBNZ ON CORONAVIRUS COUNTERING
While NZD/USD traders search for clues to the pair’s inaction despite the strong New Zealand (NZ) Retail Sales, it’s better to point towards Wednesday’s Reserve Bank of New Zealand (RBNZ) monetary policy meeting as a catalyst. As traders turn cautious ahead of the key event, amid mixed plays of upbeat data and reflation fears, Goldman Sachs (GS) expects inaction and a sustained dovish commentary during upcoming Wednesday’s RBNZ meeting.
New Zealand's (NZ) inflation expectations continue to rise across the time curve in the second quarter of 2021, the latest monetary conditions survey conducted by the Reserve Bank of New Zealand (RBNZ) showed on Friday.
In the May Financial Stability Report, the RBNZ said that the financial system is sound but vulnerable. ''While New Zealand has so far come through the COVID-19 pandemic better than initially feared, vulnerabilities in the financial system remain,'' Adrian Orr says in releasing the May Financial Stability Report.
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April RBNZ DECISION
The Reserve Bank of New Zealand has left rates on hold at 0.25%, as widely expected and there has been little reaction in the market so far.
MAY RBNZ DECISION
The Reserve Bank of New Zealand (RBNZ) board members decided to keep the Official Cash Rate (OCR) steady at a record low of 0.25% in May, as unanimously expected. The RBNZ maintained the size of its quantitative easing (QE) programme at NZD100 billion.
The Reserve Bank of New Zealand’s (RBNZ) May meeting’s minutes reveals that the board members remain concerned about the country’s labor market.
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?
Adrian Orr is the Governor of the Reserve Bank of New Zealand. He was appointed in March 2018. He is New Zealand born and bred, and primarily of Cook Island and Irish descent. Adrian graduated from the University of Waikato in 1983 with a Bachelor of Social Sciences, majoring in Economics and Geography. He also holds a Master’s Degree in Development Economics (Distinction) from the University of Leicester, England, graduating in 1985. Adrian has also served as Chair of the International Forum of Sovereign Wealth Funds, and Chair of the Pacific Pension and Investment Institute.
Adrian official RBNZ profile
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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.