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Kiwi with rebound after RBNZ's interest rate decision

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Today, the National Bank of New Zealand has decided to keep the base interest rate at 1.75% as expected. Kiwi responded appropriately to the news, with a 103 pips move at the initial momentum, and in the subsequent press conference, the currency of New Zealand continued to rise against the US dollar.

Here's more important than the RBNZ's decision and the press conference with the chairman, Orr:

  • RBNZ remains the interest rate unchanged
  • Chance to reduce interest rates has declined
  • Risks around interest rates are balanced
  • However, if growth does not intensify, it may be necessary to reduce interest rates
  • Kiwi's course against his "rivals" behaves surprisingly well, especially after recent events
  • Inflation expectations are the norm

Gorr's hawkish speech, helped the NZD to appreciate significantly against the US dollar, wiping out almost half the big downturn in the currency pair's price of 06.02.2019. Kiwi's rebound also supported the Australian dollar, which rose 30 pips on the dollar against the dollar.


 Trader Martin Nikolov

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