RBNZ raised OCR by 25bp to 2.75% on Wednesday, continuing what it described as a process of “gradually removing monetary stimulus” as inflation remains above target. Committee reached decision by consensus and said current approach reduces risk that rates need to rise more aggressively later. Yet NZD sold off sharply after announcement, suggesting markets viewed […]
The post RBNZ Delivers Second Straight Hike, Yet NZD Falls on Gradual Tightening Signal appeared first on ActionForex.
Key Highlights GBP/USD failed to surpass 1.3675 and started a downside correction. It traded below a major bullish trend line with support at 1.3570 on the 4-hour chart. WTI Crude Oil prices started a fresh Read more…
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Australia’s economy grew slightly faster than expected in June quarter, with GDP growth rising from 0.3% to 0.4% q/q, above 0.3% consensus. Annual growth nevertheless slowed from 2.5% to 2.1% y/y, but comfortably exceeded 1.8% Read more…