NZD/USD higher after the larger than expected interest rate hike from the RBNZ

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Eamonn Sheridan

13/04/2022 | 02:11 GMT

Reserve Bank of New Zealand raised its cash rate by 0.5% vs. the 0.25% consensus expectation

RBNZ announcement is here:

RBNZ announce a 0.5% interest rate hike, more than the 0.25% widely expected

The consensus was for a 25bp hike ... but from me back on Monday:

Prepare for a 50bp hike is my best guess.

NZD/USD tested 0.6900 but has not sustained:

nzdusd rbnz cash rate hike 13 April 2022

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