The New Zealand Dollar is Poised for Growth – Overview for July 12, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/NZDUSD_1-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="NZD/USD analysis today" decoding="async" loading="lazy" style="margin-bottom: 15px;" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/nzdusd/" data-internallinksmanager029f6b8e52c="37" title="NZD/USD">NZD/USD</a> pair continues its upward <a title="<div class="wpg-tooltip-content"><p>A trend is a direction in which the market or the price of an instrument is moving. Trends can be upward, downward or sideways and are common to all types of markets.</p></div>" href="https://blog.roboforex.com/glossary-terms/trend/">trend</a> following the recent decision by the Reserve Bank of New Zealand (RBNZ).</p>
<p>The New Zealand dollar is showing strength against the US dollar, with the current NZD/USD exchange rate at 0.6224.</p>
<p>During its July meeting, the RBNZ opted to maintain the <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> at 5.5% per annum. In its comments, the central bank confirmed that previous rate hikes had achieved their intended effects, curbing expenses and restraining inflationary pressures.</p>
<p>It is worth noting that consumer spending has declined following a 20-month cycle of interest rate increases, alongside a slowdown in housing construction. Concurrently, housing prices have stabilized to more sustainable levels.</p>
<p>To combat <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a>, the RBNZ has implemented a highly aggressive monetary policy phase since October 2021, raising the interest rate by 525 basis points. This represents the most assertive stance in monetary policy since the introduction of the interest rate in 1999.</p>
<p>The central bank is likely to maintain the interest rate at its current restrictive level. Regarding inflation <a href="https://blog.roboforex.com/blog/2019/11/19/top-10-forex-indicators-that-every-trader-needs/" data-internallinksmanager029f6b8e52c="99" title="Indicators">indicators</a>, the RBNZ anticipates a decline from its peak.</p>
<p>
<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a rel="nofollow" href="https://blog.roboforex.com/blog/2023/07/12/the-new-zealand-dollar-is-poised-for-growth-overview-for-july-12-2023/">The New Zealand Dollar is Poised for Growth – Overview for July 12, 2023</a> appeared first at <a rel="nofollow" href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>
Leave a Comment