The New Zealand dollar was down against most major currencies today after the uneventful policy meeting of the nation’s central bank.
The Reserve Bank of New Zealand kept its main interest rate at 1.75% as was widely expected. The central bank predicted that it will leave its monetary policy without change in the foreseeable future:
We expect to keep the OCR at this level through 2019 and into 2020.
The RBNZ was unable to tell whether the next move will be a hike or a cut:
The direction of our next OCR move could be up or down.
NZD/USD fell from 0.6657 to 0.6630 as of 12:45 GMT today after rising to 0.6678 intraday. NZD/JPY declined from 75.03 to 74.88.
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