August Statement News Today

29 November The RBNZ left the cash rate unchanged at 5.5% today. No surprises there. But their hawkish tone certainly surprised. The RBNZ revealed an upwards bias to inflation risks and will not call job done until they see the fruits of their labour ...

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Reserve Bank leaves Official Cash Rate unchanged at 5.5% but warns if inflation proves stronger than expected it may have to hike the OCR again

The Monetary Policy Committee today agreed to maintain the Official Cash Rate at 5.50%. Interest rates are restricting spending in the economy and consumer price inflation is declining, as is necessary to meet the Committee's Remit. However, inflation remains too high, and the Committee remains wary of ongoing inflationary pressures.

The policy decision is clear-cut. Not only should the central bank lift rates on Tuesday, but it also needs to signal that an increase in December is likely.

Dollar experienced a broad upsurge overnight, propelled by a robust rebound in benchmark treasury yields and a general mood of risk aversion. This strength continued into the Asian trading session, particularly notable in the greenback's gains against Japanese Yen, which have now extended past the significant 150 mark. Despite verbal interventions from Japan, Yen has received no notable support, leaving Dollar to dominate.

In the Senate Economics Committee session today, RBA Governor Michele Bullock indicated that the bank was not entirely caught off guard by the stronger than expected CPI data released yesterday. She refrained from offering a definitive direction for the bank's next steps

Euro is trading as the worst performer for the today so far, but there is no extended selloff after ECB's decision to hold interest rates unchanged. President Christine Lagarde's press conference reiterated that current rates should be bring inflation down to target in a timely manner if maintained for sufficiently long time, which is data dependent. Geopolitical tensions posts downside risks to growth and upside risks to inflation.

The Reserve Bank of New Zealand (RBNZ) will announce its Interest Rate Decision on Wednesday, October 4 at 01:00 GMT and as we get closer to the relea

Following Monday's sharp decline, NZD/USD came under renewed bearish pressure on Tuesday and dropped to its weakest level in nearly three weeks below