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NZD/USD Stays Resilient Ahead of the Reserve Bank of New Zealand Official Cash Rate Release
The Official Cash Rate (OCR) is the interest rate at which banks lend balances held at the Reserve Bank of New Zealand (RBNZ) to other banks overnight. Short-term interest rates are paramount factor in currency valuation. This is highly correlated with the economic outlook because its changes can affect both inflation and recession. In the second quarter, the New Zealand economy maintained a steady accelerating growth pattern. In its growth trajectory, external demand experienced a surging increase, and its stocks and equities edged higher with New Zealand Dollar (NZD) staying resilient in gains smashing multi-points ... (full story)