Reserve Bank of New Zealand is due to deliver its interest rate decision at 22:00 (MT time).

The benchmark interest rate is a key factor determining the nominal exchange rate of the kiwi. So, traders devote special attention to the RBNZ’s announcements.

At the last meeting, the NZ central bank left its official cash rate unchanged endorsing a wait-and-see approach for its future monetary policy undertakings.

For the time being, little has changed in respect of the domestic and international outlook. So, the RBNZ might decide to recourse from making any adjustments to their current monetary policy stance once again.

NZD/USD and AUD/NZD will likely be very active during the time of the release and afterwards.

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CySEC licensed Forex broker, FXGiants has also reported its expectations to the Economic Event.

Here is what FXGiants expect with the RBNZ’s Interest Rate Decision.

• The Bank is expected to remain on hold. Market action may come from the language of the accompanying statement.
• We expect the Bank to retain a cautious tone, amid slowing GDP growth and elevated protectionism risks.
• Something like that could bring NZD under renewed selling interest.

FXGiants is also providing detailed daily financial market report!

Read them for Free and follow the market!

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