NZD/USD: RBNZ Monetary Policy Statement

The New Zealand Dollar depreciated against the US Dollar, following the RBNZ Monetary Policy Statement release on Wednesday at 02:00 GMT. The NZD/USD exchange currency rate lost 42 pips or 0.69% after the release. The Kiwi continued trading at the 0.6020 level against the Greenback after the release.

The Reserve Bank of New Zealand released the Official Cash Rate data, which came out in line with the expectations of 0.25%.

According to the official release: "The Official Cash Rate (OCR) is being held at 0.25 percent in accordance with the guidance issued on 16 March. The Monetary Policy Committee is prepared to use additional monetary policy tools if and when needed, including reducing the OCR further, adding other types of assets to the LSAP programme, and providing fixed term loans to banks. The Committee's decisions are guided by the Reserve Bank's mandate and our decision making principles on the use of alternative monetary policy instruments."