RBNZ keeps interest rates on hold as expected, sees progress in inflation

RBNZ keeps interest rates on hold as expected, sees progress in inflation

Investing.com-- The Reserve Bank of New Zealand kept interest rates unchanged as expected on Wednesday, but signaled significant progress towards bringing inflation back within its target range.

“The Committee agreed that monetary policy will need to remain restrictive. The extent of this restraint will be tempered over time consistent with the expected decline in inflation pressures,” the RBNZ said in a statement. Traders were seen taking dovish cues from the RBNZ’s statement. The New Zealand dollar weakened after the rate decision, with the

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