RBNZ

Early Wednesday at 02:00 GMT market sees the key monetary policy decision by the Reserve Bank of New Zealand (RBNZ) amid hopes of another hawkish play.

The author makes no representations as to the accuracy, completeness, or suitability of this information. The RBNZ interest rate decision is announced by the Reserve Bank of New Zealand. Gold is struggling to find any direction after shifting its auction above $2,020.00 in the Asian session. The author will not be held responsible for information that is found at the end of links posted on this page. The author has not received compensation for writing this article, other than from FXStreet. That said, the bleak economic outlook and early signals for peak rates might tease the sellers despite the 0.25% rate hike announcement. As a result, the Reserve Bank of New Zealand may announce a dovish hike to defend the policymakers from criticism. It also does not guarantee that this information is of a timely nature. However, a negative surprise due to the natural calamity at home won’t hesitate to drown the Kiwi pair. We expect the RBNZ will raise the OCR 25 bps to 5.00%. NZD/USD retreats from a seven-week high while portraying the pre-RBNZ consolidation around 0.6310 by the press time. RBNZ is up for fueling the market moves with its 11th consecutive rate hike, expectedly worth 0.25%, during early Wednesday.

Stocks struggled to make headway on Wednesday, the dollar nursed losses and bonds clung to gains, as signs of a slowing U.S. labour market made investors ...

The euro stood by a two-month high hit overnight on the dollar at $1.0973. The kiwi was last up 0.7% at $0.6355. SINGAPORE, April 5 (Reuters) - Stocks struggled to make headway on Wednesday, the dollar nursed losses and bonds clung to gains, as signs of a slowing U.S. yield curve below top of the Fed funds rate window, which is at 5%. "The current crisis is not yet over," he said. Register for free to Reuters and know the full story

The New Zealand Dollar shot higher after the Reserve Bank of New Zealand unexpectedly hiked rates to 5.25% from 4.75%, markets were looking for 5%.

[ Recommended by Daniel DubrovskyGet Your Free USD Forecast](https://www.dailyfx.com/free-trading-guides#forecastschoices=USD) A turn lower through the trendline could open the door to revisiting the March low at 0.6085. Stock markets will be closed for the Good Friday holiday, but currency markets will be trading. With that in mind, the focus for NZD/USD will turn to the next US non-farm payrolls report on Friday. [inflation](https://www.dailyfx.com/topics/inflation) is still too high and remains persistent, adding that the official cash rate needs to be at a level to reduce prices. For example, the Federal Reserve has dramatically slowed its pace of tightening while the Reserve Bank of Australia paused altogether. That may continue offering it upside support in the near term. Interestingly, the committee noted that near-term inflationary pressures have increased. This move makes the RBNZ stand out from its major peers. Heading into the rate decision, the median survey was for the RBNZ to hike rates to 5% from 4.75%. Instead, the central bank went all out with a 50-basis point hike, bringing benchmark lending rates to 5.25%. [NFPs](https://www.dailyfx.com/nfp), will NZD/ [USD](https://www.dailyfx.com/usd)revisit the March high?

The RBNZ decision is at 2200 GMT with all eyes on the NZD during what could be a volatile Asian trading session on Wednesday morning.

[Get it here](https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD). [check out eFX Plus](https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD). But with downside risks growing to our 5.50% terminal call for the RBNZ, we think NZD may still consolidate further," TD adds.

The Reserve Bank (RBNZ) has raised interest rates by another 50 basis points to highs not seen since the 2008 global financial crisis.

"Consensus is overwhelmingly looking for a downshift in the hiking pace to 25bp, leaving us as the only one in the 50bp camp among the 18 analysts surveyed ...

and European banking sectors potentially matters as much for the New Zealand Dollar outlook as the size of any interest rate change announced on Wednesday. "Monetary policy is now actively working to slow the economy. To optimise the timing of international payments you could consider setting a free FX rate alert ](/images/2023/April-04-2023-NZD-USD-Daily.png) [here](/rate-alert-articles). "Economic surprises have been much more negative in New Zealand lately, culminating in a big miss for Q4 GDP. "We think the central bank would be wary of being seen as going soft on inflation before price data have moved decisively lower. [Above: NZD/USD shown at daily intervals alongside GBP/USD.

Reserve Bank lifts Official Cash Rate 50 basis points to 5.25% saying severe weather events have led to higher prices for some goods & services.

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