Markets await the RBNZ presser

Markets will enjoy the presser that will be following the RBNZ's interest rate announcements where the bank left the Official Cash Rate (OCR) unchanged at 1.75 percent. The presser is due at the top of the hour, at 21.00GMT. 

Markets are expecting the RBNZ to recognise the improvements in the economy, dairy prices and how the economy is on track to meeting the RBNZ's 2% inflation target. 

The bird subsequently dropped on the outcome of the meeting and looked towards the 0.72 mark, while at the time of writing, the bird is trading at 0.7224, down -1.10% on the day, having posted a daily high at 0.7353 and low at 0.7210

Key Notes

• RBNZ keeps rate unchanged as expected at 1.75%
• NZD/USD dumps towards 0.7200 on RBNZ unchanged, no jawboning

About the RBNZ interest decision and statement

The RBNZ interest rate decision is announced by the Reserve Bank of New Zealand. If the RBNZ is hawkish about the inflationary outlook of the economy and raises the interest rates it is positive, or bullish, for the NZD. The RBNZ rate statement contains the explanations of their decision on interest rates and commentary about the economic conditions that influenced their decision.