RBNZ left rates on hold at 0.25%, NZD unchanged

The Reserve Bank of New Zealand has left rates on hold at 0.25%, as widely expected and there has been little reaction in the market so far.

NZD/USD implications

Meanwhile, the kiwi had been testing hourly resistance.

• NZD/USD Price Analysis: Bulls taking on the hourly resistance ahead of RBNZ

Description of the RBNZ Interest Rate Decision  

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.