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.
What awaits NZD in February?
What’s happening?
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 release is essential for the movement of NZD/USD and GBP/NZD pairs. The announcement influences the cost of borrowing money in New Zealand and shows the country’s inflation level and economic activity. The Reserve Bank of New Zealand reviews its policy seven times a year.
Possible Kiwi Dollar moves
On November 24, 2021, the Reserve Bank of New Zealand raised the rate by 25 points, to 0.75%, which is close to the pre-pandemic times. Due to the immense negative impact of the coronavirus, in March 2021, the RBNZ dropped this rate from 1.0% to 0.25%. As the economy recovered after COVID-19, the interest rate has been slightly going up.
In November, the actual rate was the same as it was predicted, so the changes in currency weren’t crucial. Besides, the volatility stayed as active as it had been.
The new release will help traders understand and predict the variability of NZD and its pairs.
How to trade on the RBNZ meeting?
The higher the actual rate is, the better it is for the currency.
If only the actual rate is much higher than experts say, there will be a boost in the currency rate. In addition, the meaning of the press conference shouldn’t be underestimated; it’s still possible that the RBNZ makes an unexpected statement and sends the NZD sharply up or down.
Check the economic calendar
Instruments to trade: NZD/USD, GBP/NZD
Similar
Will the RBNZ support the kiwi?
The New Zealand interest rate is announced on Wednesday at 03:00 MT time.
NZD/USD: testing tactical support
The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
Latest news
What Currency Will Overperform?
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.
Investor Positivity May Fade After Powell's Speech and CPI Release
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.
What Can Rule the Roost in January 2023?
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
