NZ Dollar Falls After RBNZ Holds Official Cash Rate Steady
March 22 2017 - 10:23PM
RTTF2
The New Zealand dollar weakened against the other major
currencies in the Asian session on Thursday, after the Reserve Bank
of New Zealand maintained its Official Cash Rate at a record
low.
The Reserve Bank of New Zealand maintained its Official Cash
Rate at the record low of 1.75 percent. The decision was in line
with expectations following a rate cut in November. Following no
move in September, the central bank trimmed its benchmark by 25
basis points in August after holding fire for three straight
months.
"Monetary policy will remain accommodative for a considerable
period. Numerous uncertainties remain, particularly in respect of
the international outlook, and policy may need to adjust
accordingly," RBNZ Governor Graeme Wheeler said.
Wednesday, the NZ dollar showed mixed trading against its major
rivals. While the kiwi rose against the Australian dollar, it fell
against the U.S. dollar, the yen and the euro.
In the Asian trading, the NZ dollar rose to 0.7025 against the
U.S. dollar and 78.20 against the yen, from yesterday's closing
quotes of 0.7044 and 78.27, respectively and held steady
thereafter.
Against the euro and the Australian dollar, the kiwi advanced to
1.5352 and 1.0870 from yesterday's closing quotes of 1.5327 and
1.0898, respectively and held steady thereafter.
Looking ahead, German GfK consumer confidence index for April
and U.K. retail sales data for February are due to be released at
3:00 am ET.
At 5:00 am ET, European Central Bank is scheduled to publish its
economic bulletin.
At 5:15 am ET, Bank of England Deputy Governor Ben Broadbent is
expected to speak at Imperial College, in London.
In the New York session, U.S. weekly jobless claims for the week
ended March 18, U.S. new home sales data for February and Eurozone
consumer confidence index for March are slated for release.
At 8:45 am ET, Federal Reserve Chair Janet Yellen will deliver
opening remarks at the Federal Reserve System Community Development
Research Conference, in Washington DC.
At 12:30 pm ET, Federal Reserve Bank of Minneapolis President
Neel Kashkari is expected to speak about the US education outcomes
and achievement gaps at the Federal Reserve System Community
Development Research Conference, in Washington DC.
At 1:00 pm ET, Swiss National Bank Governing Board Member Andrea
Maechler will deliver a speech titled "The SNB Investment Policy
and its Peculiarities" at the Money Market Event, in Zurich.
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