RBNZ believes NZD is not adjusting to falling commodity prices

Note: This section contains information in English only.
Source: Interest.co.nz
The Kiwi has had the worst performance of all the major currencies in the last 24-hours and has declined 1.4% against the USD. With the RBNZ raising its cash rate to 3.50% it affirmed that the officials will wait to see the impact of recent hikes. Moreover, the bank stated that the current level of the New Zealand Dollar is unsustainable and unjustified in relation to falling commodity prices.
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