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NZD/USD rises toward 0.6150 after the RBNZ decides to keep OCR unchanged
NZD/USD received support as RBNZ maintained the interest rate at 5.5% as inflation remained elevated. RBNZ is expected to maintain higher rates for longer as annual CPI remains above the 1-3% target band. Fed’s Susan Collins stated that progress toward interest rate adjustment will take longer. The NZD/USD pair rebounded after two days of losses, trading around 0.6140 during Asian hours on Wednesday following the Reserve Bank of New Zealand's (RBNZ) interest rate decision. The central bank maintained its Official Cash Rate (OCR) at 5.5% for the seventh consecutive meeting as inflation remains elevated, remaining ... (full story)