RBNZ holds rates at 1.75%

As widely as expected, the RBNZ holds the Official Rate Cash at 1.75% and there were no mentions of the Kiwi in the statement. 

Key notes:

• Monetary policy will remain accommodative for a considerable period
• Numerous uncertainties remain and monetary policy may need to adjust accordingly
• Longer-term inflation expectations remain well anchored at around 2 percent
• Future headline inflation expected to trend upwards towards the midpoint of the target range
• CPI inflation to weaken further near-term due to softness in food and energy prices, adjustments to govt charges

About the RBNZ

RBNZ Interest Rate Decision is announced by the Reserve Bank of New Zealand. If the RBNZ is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the NZD.