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Breaking: Reserve Bank of New Zealand cuts key interest rate to 1.50%, NZD slumps to 0.6550

At its May monetary policy meeting on Wednesday, New Zealand’s central bank, the Reserve Bank of New Zealand (RBNZ) cut its Official Cash Rate (OCR) to fresh historic lows of 1.50% vs. 1.75% previous, as the economy cools and inflation falls further below target.

New Zealand RBNZ Interest Rate Decision in line with forecasts (1.5%)

New Zealand RBNZ Interest Rate Decision in line with forecasts (1.5%)
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NZD/JPY tanks 80+ pips as RBNZ refrained from following RBA’s footsteps

NZD/JPY slumped 80 pips ahead of trading near 72.20 after the Reserve Bank of New Zealand (RBNZ) announced a 25 basis points (bps) rate cut.
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