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When is the RBNZ and how it could affect NZD/USD?


7/14/2021 12:53:24 AM GMT
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By Anil Panchal
Early Wednesday at 02:00 GMT market sees the monetary policy decision by the Reserve Bank of New Zealand (RBNZ). Amid widely accepted chatters of New Zealand’s central bank’s rate hike in 2021, today’s monetary policy meeting becomes the key despite lacking the economic forecast announcements.
It’s worth noting that the RBNZ policymakers have been silent of late and the covid concerns are comparatively less severe than the other Pacific counterparts, making it suitable to be the first major central bank to offer a rate hike.
Even so, market consensus favors no change in the benchmark interest rate, currently at 0.25%, or the Large Scale Asset Purchases (LSAP) during today’s monetary policy meeting. The forward guidance, however, be edit the previous line saying, “current levels of stimulus will remain in place for a considerable time.” ....

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