What awaits NZD in February?

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.

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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

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