21.07.2016 - In the RBNZ stated about the likely softening of monetary policy

Price of the New Zealand dollar fell sharply today after in the Reserve Bank of New Zealand said about the likely softening of monetary policy in the country. In addition, the central bank of the country stressed the need to reduce the exchange rate of the local currency, in order to reach the inflation target, as well as stimulation of the dairy industry and the manufacturing sector in the country. It is worth noting that the growth prospects of the economy are uncertain due to external factors. We forecast a drop in the New Zealand dollar with potential targets at 0.6450 and 0.6250, but we can see the price rebound in the near future.

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