November 29, 2023 – Written by Ben Hughes
STORY LINK New Zealand Dollar Spikes on RBNZ Rate-Hike Warning
The Reserve Bank of New Zealand (RBNZ) held interest rates at 5.50% at the latest policy meeting which was in line with consensus forecasts.
The statement was, however, notably more hawkish than expected and the warning that interest rates may have to increase further trigger sharp New Zealand dollar gains.
NZD/USD spiked to 16-week highs above 0.6200 before a correction to 0.6155 with the soft US dollar also helping to underpin the kiwi.
The Pound to New…
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