NZD: another surprise from the RBNZ

NZD: another surprise from the RBNZ

The Reserve Bank of New Zealand announced the interest on 12 February at 15:00 New Zealand time. As expected, it was held at 1%. Governor Orr informed that the employment is at if not slightly above its sustainable level, economic growth is expected to accelerate due to monetary policy measures, and household spending growth is increasing. In the meantime, the Coronavirus is believed to bring a short-term effect on New Zealand.

As you can see, the report is pretty upbeat. As a result, NZD leapt by approximately 50 pips!

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