New Zealand central bank unexpectedly holds OCR at 2.75%
New Zealand’s central bank unexpectedly kept its official cash rate at 2.75% on Wednesday. The New Zealand dollar rose in response.
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New Zealand central bank holds OCR at 2.75% unexpectedly
The Reserve Bank of New Zealand kept its official cash rate at 2.75% on Wednesday, sending the New Zealand dollar sharply lower as investors scaled back rate-hike expectations.
New Zealand Central Bank Holds Rates at 2.75%, Surprising Markets
The Reserve Bank of New Zealand kept its official cash rate at 2.75% after a split policy-board decision. Money markets had considered another hike nearly certain.
Kiwi Dollar Tumbles After RBNZ Unexpectedly Holds Rates
The New Zealand dollar fell more than 1% to around $0.559, its lowest level in two weeks, after the Reserve Bank kept interest rates unchanged at 2.75%. This defied market expectations of a 25-basis-point hike. Still, the committee indicated that further monetary policy tightening could be necessary, depending on the e