RBNZ's McDermott: employment mandate will help inflation targeting flexibility

Ross J Burland FXStreet

RBNZ's McDermott is speaking on inflation targeting (and employment mandate) titled'Evolution in inflation targeting'.

With the recent expansion of the RBNZ's mandate and the new Policy Target Agreement with the added employment mandate, the Reserve Bank Assistant Governor and Head of Economics John McDermott said that New Zealand’s inflation targeting framework has evolved significantly over the past 30 years and that the inclusion of an employment mandate will help inflation targeting flexibility.

Key notes:

The bank has always had regard for the labour market.
Bank will be publishing non-attributes records of policy meetings.
Will reflect differences in views.

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.

EUR/USD attempts some consolidation near 1.1750

EUR/USD is staying firmly supported and hovering near two-day highs around 1.1750 on Thursday, shaking off the mild pullback seen a day earlier. The pair is benefiting from a friendlier risk backdrop, underpinned by easing EU–US trade tensions and a softer Greenback. Moving forward, markets’ attention will be on the release of flash PMIs in Europe and the US on Friday.

GBP/USD flirts with 1.3500 on persistent USD selling

GBP/USD is regaining momentum on Thursday and pushing up towards two-week highs around the 1.3500 mark. In the process, Cable is leaving Wednesday’s brief wobble behind and slipping back into its upward trend, helped by ongoing selling pressure on the Greenback ahead of key advanced PMI data on Friday.

Gold: The $5,000 mark is just around the corner

Gold extends its impresive rally for yet another day on Thursday, this time surpassing the $4,900 mark per troy ounce to hit record highs on the back of the marked pullback in the US Dollar. The move is unfolding even as global risk appetite improves, after Donald Trump reversed course on Greenland, a shift that has helped cool broader geopolitical tensions.

Crypto Today: Bitcoin, Ethereum, XRP post modest gains as ETF selling pressure intensifies

Bitcoin rises marginally above $90,000, but intense ETF selling pressure continues to weigh on the asset. Ethereum trades around $3,000 amid broader crypto market volatility and waning institutional interest. XRP ticks up for the second consecutive day despite subdued retail demand.

Trump walks back NATO tariffs, signals de-escalation

What began as a sharp escalation risk quickly turned into a de-escalation signal. Earlier this week, markets briefly priced in escalation risk after Donald J. Trump proposed a 10% tariff hike on eight NATO nations amid the Greenland dispute.

XRP defends $1.90 support as ETFs attract inflows despite retail caution

Ripple (XRP) is consolidating above $1.90, a short-term support level, at the time of writing on Thursday. This mild uptick marks two consecutive days of a strengthening technical outlook, following recent market-wide volatility.