RBA Set for Back-to-Back Rate Hikes, Westpac Forecasts 
J.P. Morgan Now Expects Two ECB Rate Hikes Amid Inflation Pressures 
Bank of Japan Officials Signal Continued Interest Rate Hikes Amid Inflation Concerns 
Goldman Sachs Delays Bank of England Rate Cut Forecast Amid Middle East Inflation Risks 
RBA Set to Hike Rates Again Amid Inflation Surge and Global Uncertainty 
Taiwan Central Bank Expected to Hold Interest Rates Steady Through 2027 
Fed Holds Rates Steady as Middle East Conflict Clouds Inflation Outlook 
Bank of Japan Holds Rates Steady Amid Inflation Concerns and Yen Weakness 
RBA Raises Cash Rate to 4.10% in Closest Vote Since Transparent Voting Began 
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As expected, the Reserve Bank of New Zealand (RBNZ) lowered interest rates by 50 bpbs to 4.75%. The RBNZ said that it is appropriate to cut the rate by 50 bpbs to achieve and maintain low and stable inflation. The inflation is maintained with its target range 1-3% and converging on the 2 percent midpoint.
Business investment and consumer spending have been weak, and employment conditions continue to soften
Global economic growth remains below its long-run trend and is expected to remain so for the year ahead. Economic growth in the United States and China is expected to slow.
Members agreed that increasing excess capacity leads to lower inflationary pressure in the New Zealand economy. Economic growth is partly weak because of low productivity growth, but mostly due to weak consumer spending and business investment.
Major resistance- 0.6205
Near-term resistance - 0.6150
Minor support- 0.6050,0.6000
Trend reversal level- 0.6620
