The Reserve Bank of New Zealand (RBNZ) will announce its interest rate decision on Wednesday at 01:00 GMT.
The Reserve Bank of New Zealand is set to lower its key interest rate by 50 bps to 4.25% on Wednesday. The RBNZ is expected to front-load due to the economic recession and as inflation falls back into the target band. The New Zealand Dollar could see a big reaction to the RBNZ ’s updated forecasts and Governor Orr’s press conference. The Reserve Bank of New Zealand will announce its interest rate decision on Wednesday at 01:00 GMT.
Further up, the confluence zone of the 50-day SMA, 100-day SMA and 200-day SMA near 0.6060 will be a tough nut to crack for them. Alternatively, failure to defend the October 2023 low of 0.5772 will threaten the November 2022 low of 0.5741,” Dhwani adds. Economic Indicator RBNZ Interest Rate Decision The Reserve Bank of New Zealand announces its interest rate decision after its seven scheduled annual policy meetings.
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