RBNZ: no mention of NZD/USD - UOB

Analysts at UOB Group noted that the Reserve Bank of New Zealand on early Thursday morning and kept its policy rate unchanged at a record low 1.75% (since Nov 2016) as “inflation is expected to weaken further in the near term” before trending up toward the bank’s 2 percent target, according to Acting Governor Grant Spencer.

Key Quotes:

"In its statement, RBNZ noted that monetary policy will remain accommodative for a considerable period while numerous uncertainties remain and monetary policy may need to adjust accordingly. It highlighted that inflation is expected to weaken further nearterm due to softness in food and energy prices while GDP was weaker than expected in Q4. The statement made no mention about the NZD currency."