NZD/USD bouncing after the expected RBNZ 25bp cash rate cut ...Middle East

RBNZ cuts cash rate by 25bp vs. 25bp expected

The summary of the minutes showed the beginnings of wariness on the Board for further rate cuts, notably:

Committee discussed the options of keeping the OCR on hold at 3.50 percent or reducing it to 3.25 percentBy a majority of 5 votes to 1, the committee agreed to decrease the OCR by 25 basis points from 3.50 percent to 3.25 percent

NZD/USD has bounced:

This article was written by Eamonn Sheridan at www.forexlive.com.

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