RBNZ holds rates at 1.75%

Ross J Burland FXStreet

As widely as expected, the RBNZ holds the Official Rate Cash at 1.75% and there were no mentions of the Kiwi in the statement.

Key notes:

Monetary policy will remain accommodative for a considerable period
Numerous uncertainties remain and monetary policy may need to adjust accordingly
Longer-term inflation expectations remain well anchored at around 2 percent
Future headline inflation expected to trend upwards towards the midpoint of the target range
CPI inflation to weaken further near-term due to softness in food and energy prices, adjustments to govt charges

About the RBNZ

RBNZ Interest Rate Decision is announced by the Reserve Bank of New Zealand. If the RBNZ is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the NZD.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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