NZD: central banks is on hold
The Reserve Bank of New Zealand signaled that it will keep interest rates on hold as inflation slows and NZD remains unjustifiably high.
The RBNZ’s official cash rate remained at 3.5%. Inflation in New Zealand slowed more than expected in Q3 to the bottom of the 1-3% range the central bank targets.
NZD/USD tested levels below $0.7800 on the news.