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?
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
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.