Bank of Japan Holds Rates Steady Amid Inflation Concerns and Yen Weakness 
Fed Holds Rates Steady as Middle East Conflict Clouds Inflation Outlook 
J.P. Morgan Now Expects Two ECB Rate Hikes Amid Inflation Pressures 
RBA Set to Hike Rates Again Amid Inflation Surge and Global Uncertainty 
Taiwan Central Bank Expected to Hold Interest Rates Steady Through 2027 
ECB Eyes Rate Hike Amid Iran Conflict-Driven Energy Price Surge 
Following the FOMC announcements, the Reserve Bank of New Zealand will make its rate decision scheduled at 2000 GMT. Markets do not expect a rate cut as recent inflation data failed to impress the markets, and as risks in China continues to worry the economy. Moreover, the central bank had cut interest rates in December and was firm to keep it unchanged over the coming months.
The economy faces downside risk as the oil prices continue to decline, with rising uncertainties in Chinese economy. The global turmoil has affected the NZD as it depreciated 5 percent against the USD, reassuring the RBNZ's policy stance.
"As long as the NZD weakens further the RBNZ will leave rates unchanged. Should the downside risks increase notably and/or the NZD appreciate again the RBNZ will take action again. That is exactly what it is likely to signal tonight. That means the NZD remains under downside pressure", says Commerzbank in a research note.
