You Trade NZD? This is the Latest RBNZ Interest Rate Decision!

<p>&nbsp;Today's Asian market session was highlighted by the New Zealand central bank's (RBNZ) policy meeting which saw it keep interest rates unchanged at 5.50%.</p><p><br /></p><p>This was broadly in line with market forecasts which saw the central bank's official cash rate (OCR) peaking.</p><p><br /></p><p>However, the RBNZ said it would leave interest rates at their highest level for a while to ensure annual consumer inflation returns to the target range of 1-3%.</p><p><br /></p><p>He added that there are risks in the activities in the near term and inflation measures are not slowing down as expected.</p><p><br /></p><p><br /></p><p>While the latest indicators continue to show a loss of momentum in the economy, they also signal a risk that price pressures may take longer to dissipate.</p><p><br /></p><p>The kiwi dollar rose slightly following the statement, erasing earlier losses to trade at around 0.5963 against the greenback.</p><p><br /></p><p>Meanwhile, the RBNZ also said there was not much discussion about interest rate cuts at the meeting, adding that they are very comfortable with the current level of interest rates.</p><p><br /></p><p>In addition, the central bank also sees that the New Zealand economy is still on the right track for a 'soft landing' or avoiding recession.</p>