RBNZ ends monetary tightening

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The Reserve Bank of New Zealand has unexpectedly revealed that it would end its monetary tightening cycle. This morning, the central bank hiked its rate from 5.25% up to 5.50% and announced that it is the last hike.

As a result of the unexpected monetary policy change the New Zealand Dollar's value plummeted. By 07:00 GMT the NZD/USD had declined 1.72% or 107.3 base points.

Meanwhile, markets observed that the event had spilled over into the Asian stock market, as stock prices declined.
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