RBNZ keeps OCR at 1.75%
The RBNZ have maintained the Official Cash Rate (OCR) at 1.75%. This was widely expected.
The key points in the RBNZ statement are:
CPI projected to remain near mid-point target
Numerous uncertainties remain and policy may need to adjust accordingly
Impact of new government policies remain very uncertain
global growth continues to improve
Economic growth is projected to strengthen
The NZD is jumped higher in immediate response.
Current indicative levels are:
NZDUSD 0.6930 / 0.6970
NZDAUD 0.9025 / 0.9065
NZDEUR 0.5970 / 0.6000
NZDGBP 0.5280 / 0.5310
NZDJPY 78.90 / 79.20
ends