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New Zealand Cash Rate will define the fate of NZD!
Reserve Bank of New Zealand (RBNZ) will reveal Official Cash Rate and make a statement about monetary policy on October 6, 04:00 GMT+3.
Reserve Bank of New Zealand (RBNZ) will reveal Official Cash Rate and make a statement about monetary policy on October 6, 04:00 GMT+3. The statement contains the outcome of RZNB's decision on interest rates and commentary about the economic conditions that influenced it. Also, it discusses the economic outlook and offers clues on the outcome of future decisions.
While the rate decision is usually priced into the market, it tends to be overshadowed by the RBNZ Rate Statement, which is focused on the future. The Reserve Bank is widely expected to raise the Official Cash Rate to 0.5% from the current 0.25% next week. When there is a typical amount of uncertainty, and the risks are evenly balanced, then central banks globally tend to follow a smoother path and keep their policy rate unchanged or move in 25 basis point increments.
On August 18, 2021, RBNZ didn’t raise the rate as expected and has kept it at 0.25%. Such a decision was the reason for the NZD to plunge.
The interest rate is expected to rise, and more hawkish comments from the Reserve Bank will help New Zealand dollar to strengthen, especially against currencies of more dovish countries.
Check the economic calendar
Instruments to trade: NZD/CAD, NZD/JPY, NZD/USD.
Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.
Have a look at the key financial instruments on Monday, February 28. Geopolitics is currently on all news frontlines. Western nations escalated sanctions on Russia for the invasion of Ukraine.
The Reserve Bank of New Zealand will reveal the official cash rate, monetary policy statement, make a rate statement, and after that will answer questions in a press conference on February 23, 03:00 GMT+2.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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