Reserve Bank of New Zealand

Cloudy Picture: Inflation Still Elevated but Delta Variant Poses Growth Risk

August 18, 2021

Central bankers and private investors are continuing to balance the pressures of elevated inflation on the one hand but a less certain strong recovery on the other. This has made for choppy markets. Overnight movements in the dollar were narrowly mixed, with net dips of 0.2% against sterling and 0.1% relative to the euro, loonie, […] More

New Zealand Monetary Authorities to Stop an Asset Buying Program

July 14, 2021

The U.S. dollar’s most significant movement overnight has been a 1.0% decline against the New Zealand dollar, which rose following an initial tapering of monetary policy stimulus announced by the Monetary Policy Committee of the Reserve Bank of New Zealand. A released statement after a scheduled policy review, opined ¬†that, in the absence of any […] More

Data Evidence of Higher Inflation and a Setback in Industrial Production

July 14, 2021

In overnight currency market action, the weighted dollar touched its highest level (92.83) since very early in April but subsequently settled back to 0.1% below its Monday closing level. Net dollar losses so far today are 0.4% versus the Mexican peso, 0.3% relative to sterling and 0.1% versus the yen, euro, loonie and Australian dollar. […] More

Holding Pattern Ahead of U.S. Data Getting Released Tomorrow and Friday

May 26, 2021

Not much data have been released today, but action is likely to pick up later in the week with the release of several key U.S. indicators such as GDP, personal income and spending, durable goods orders, trade deficit, and U. Michigan consumer sentiment index. That said, investors have become less fearful about the risk that […] More

Monetary Policy Differences Starting to Emerge Across Nations

February 24, 2021

The dollar weakened 0.7% overnight against its closest neighbors, the Mexican peso and Canadian dollar. The greenback also fell by 0.6% versus the kiwi, 0.2% relative to the yuan, and 0.1% vis-a-vis the Australian dollar and sterling but advanced 0.6% relative to the Japanese yen and 0.3% vis-a-vis the Swiss franc. Equities were clobbered in […] More

Reserve Bank of New Zealand Adds a New Feature to Monetary Stimulus

November 11, 2020

Reserve Bank of New Zealand’s scheduled policy review.¬† The record low 0.25% Official Cash Rate was not changed. Such had been cut by 75 basis points last March and from as high as 3.50% prior to June 2015. Officials also reaffirmed its quantitative stimulus intended to buy a maximum of NZD 100 billion by mid-2022. […] More

Tech Stocks Rebound, Covid Cases Soaring, and a Holiday is Observed

November 11, 2020

On the eleventh day of the eleventh month of 1918, an armistice was signed in Compiegne, France between World War I allies and Germany that ended the so-called “war to end all wars.” Each year on November 11th, that event 102 years ago is commemorated in three countries but by three different names: Armistice Day […] More

Firmer Tone Wednesday in Equities and the Dollar

September 23, 2020

European share prices so far today show gains of 2.1% in the U.K., 1.6% in Spain, 1.5% in France, 1.4% in Germany and 1.1% in Italy. Equities also rebounded 2.4% in Australia, 1.1% in New Zealand, and 0.7% in Singapore but dipped 0.1% in Japan whose market was closed Monday and Tuesday for holidays. U.S. […] More

Investors Spooked by Faster Proliferation of New Covid-19 Cases in the United States

June 24, 2020

The year-to-date number of reported U.S. infections, 2.424 million, has climbed somewhat more than 36k in the past 24 hours and 216 thousand from a week ago. This has created doubt that economic reopening can proceed as planned, and even supporters of President Trump are starting to lose patience that he has the right stuff […] More

75-Basis Point Official Cash Rate Cut at the Reserve Bank of New Zealand

March 16, 2020

The Reserve Bank of New Zealand slashed its Official Cash Rate to 0.25% from 1.0%. This was the first reduction in 7 months and the ninth cut from a peak of 3.50% prior to June 2015. The action today is meant to counter the drag of the coronavirus pandemic, about which officials observed, “The negative […] More

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