NZD/USD flows: RBNZ Hold As Expected

The RBNZ has kept rates unchanged at 3.25% as widely expected. Their OCR path forecast only sees one more 25bps hike and they have not changed that forecast. They are also seeing CPI to edge closer to upper band of target range for the rest of the year, a reason for their temporary pause.

NZD/ISD is trading 0.31% lower at 0.5979.