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

on the rate cut is here:

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

While the projected path ahead showed a lower rate, its not perhaps as quick as many in the marekt were looking for.

NZD/USD has bounced:

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

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