29.07.2015 - We expect the fall of NZD/USD
Today, the Governor of the Reserve Bank of New Zealand delivered a speech in which he noted the need for further easing of monetary policy in the country to stimulate economic growth and inflation. Given the low prices of export products, it is necessary to devalue the New Zealand dollar for sustaining economic growth. The GDP growth rate currently stands at about 2.5%. We expect a further decline in interest rates of the RBNZ and maintain a medium-term negative outlook with targets at 0.6200 and 0.6000.