The New Zealand dollar remains in the range

30.10.2014
The NZD/USD pair is trading within the medium-term range; there are no severe reactions to the outcome of the RBNZ meeting.

On Thursday the New Zealand dollar is trading inside the medium-term range. The NZD/USD pair could have strengthened its position after the next meeting of the Reserve Bank of New Zealand, but alas - the market continues to celebrate the triumph of the US dollar.

As expected, the Central Bank kept interest rates at 3.5% per annum.

Comments by Mr. Wheeler, the head of the RBNZ, are not very original, so their outline in brief: the New Zealand dollar is too expensive, and the regulator is not going to tighten the monetary policy and just intends to monitor the situation.

Regarding the rate of the NZD, the RBNZ noted that its cost is still too high, and even unreasonably high. Disturbing, is not it? Although, in fairness, it should be noted that the monetary policy of the New Zealand regulator now looks fairly balanced and adapted to the current conditions.

Naturally, the RBNZ nods to the overall volatility of the world, and notes that much would be different if not for the external background.

Last time the RBNZ rate was effectively revised in June 2014, when it was raised to the current level and signalled the start of a period of stable monetary policy.
 
RoboForex Analytical Department

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