29.01.2015 - The RBNZ statement resulted in the fall of the New Zealand dollar

The Reserve Bank of New Zealand issued a statement according to which interest rates remain at 3.5% and will remain at the current level for some time. At the same time the regulator has noted the readiness to change interest rates, depending on the economic data. The head of the RBNZ Wheeler noted that a growth rate of more than 3% due to growth in the construction sector and household income. Despite this, an expensive New Zealand dollar and low prices at export prices have a negative impact on the economy. We expect a further fall of prices in the medium term and recommend holding short positions with the target at 0.7000.

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