The decision on interest rates depends mainly on the growth outlook and inflation. The main goal of the central bank is to achieve price stability. High interest rates attract foreigners who are looking for the best option of “risk-free” income for their money, which can dramatically increase the demand for the country’s currency. The data above the forecast strengthen the NZD, and the data below the forecast put pressure on the national currency. It is expected that the rate will remain at the same level of 1.75%.
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