NZD/USD experiences a decline for the second consecutive day, trading around 0.6060 during Asian trading hours.
NZD/USD falls to a two-month low of 0.6039 following the inflation data release on Wednesday. New Zealand's CPI rose 2.2% YoY in the September quarter, falling within the RBNZ target range of 1% to 3%. Atlanta Fed President Raphael Bostic anticipates just one more interest rate cut of 25 basis points in 2024. The pair hit a two-month low of 0.6039 after the latest data showed that inflation in New Zealand has slowed to its lowest level in over three years.
On Tuesday, Federal Reserve Bank of Atlanta President Raphael Bostic stated that he anticipates just one more interest rate cut of 25 basis points this year, as reflected in his projections during last month's US central bank meeting. The median forecast was for 50 basis points beyond the 50 basis points already implemented in September, according to Reuters.
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