RBNZ Meeting

RBNZ Meeting

The Reserve Bank of New Zealand left interest rates unchanged at its August meeting. According to the RBNZ Governor Graeme Wheeler, monetary policy will remain accommodative for a considerable period because of numerous uncertainties. Wheeler also let the market know that the central bank would like to see a lower NZD. In addition, New Zealand’s government has recently cut its economic growth forecasts.    
If the RBNZ sticks to its dovish rhetoric, the NZD will be under negative pressure. Any improvement in the central bank’s communication because of the new data will give a boost to the New Zealand’s currency. 
The results of the RBNZ meeting will be announced at 23:00 MT time on September 26. It will be a good time to trade NZD. 
nzd

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