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FxWirePro: RBNZ likely to boost USD with dovish comments at tomorrow’s meeting
Tomorrow Reserve Bank of New Zealand (RBNZ) will announce its monetary policy at 2:00 GMT, followed by a press conference at 3:00 GMT. Over the past 4 years or so, RBNZ has reduced rates from 3.5 percent to 1.5 percent, which is an all-time low.
RBNZ is likely to signal further easing going ahead. Though rate hike is not expected at today’s meeting,
We expect the commentaries to remain dovish for now, which would push the USD higher.
Let’s see how the economy and inflation has been doing in the recent past,
A press conference is scheduled after RBNZ decision at 3:00 GMT.
We expect the commentaries to remain dovish as RBNZ is very likely to follow Reserve Bank of Australia’s (RBA) guidance that rates could move further lower. NZD is currently trading at 0.697 against the USD.