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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.
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.
Although Jerome Powell’s speech sounded hawkish on Wednesday, September 22, markets did not get scared and the main stock indices got bought back…
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
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