NZD/USD flows: RBNZ Cut by 25bps As Expected

The RBNZ Cut by 25bps as expected to 3.25%. There are also revision to their forecast with OCR to 3.12% in September 2025 and 2.87% in June 2026, both lowered from previous forecast. However, the forecast for annual CPI in June 2026 is also revised lower to 1.9%.

Yet, NZD/USD jumped 0.48% higher to 0.5977 as the board voted 5 to 1 for the cut.