The Reserve Bank of New Zealand is set to hold the interest rate at 5.50% on Wednesday. The language in the policy statement will offer cues on the RBNZ interest rate outlook. The New Zealand Dollar braces for a big reaction to the RBNZ policy announcements. The Reserve Bank of New Zealand is widely expected to maintain the Official Cash Rate at 5.50% for the sixth consecutive meeting in a row following the conclusion of its monetary policy meeting on Wednesday.
Qs What is the Reserve Bank of New Zealand? The Reserve Bank of New Zealand is the country’s central bank. Its economic objectives are achieving and maintaining price stability – achieved when inflation, measured by the Consumer Price Index , falls within the band of between 1% and 3% – and supporting maximum sustainable employment.