RBNZ Rate Statement & Official Cash Rate

RBNZ Rate Statement & Official Cash Rate

The Reserve Bank of New Zealand will deliver its interest rate decision at 23:00 MT time on June 21. Expectations of changes in the benchmark interest rate represent the key drive of the national currency.

At the last meeting, the NZ central bank left its official cash rate unchanged and underlined that monetary policy will remain accommodative for a considerable period. The RNBZ also said that numerous uncertainties remain and there may be a necessity to adjust policy accordingly. The reaction of the NZD to this statement was negative. Let’s see whether the central bank’s approach has changed or stayed the same.

NZD/USD and AUD/NZD will likely be very active during the time of the release and afterward.

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