The Reserve Bank of New Zealand cut its cash rate today (morning NZ time)
- At Governor Wheeler's press conference an hour later he was very clear in saying rates are now on hold
- He also said he had an open mind on intervention in the NZ dollar
- He also spoke later in front of a parliamentary committee
NZD shot higher on the rate cut announcement, then gave it all back on the press conference and following
Its making new session lows now:
No fresh news, announcements etc.
RBNZ assistant Governor did reiterate earlier the NZD intervention threats made by Wheeler:
- Can cut rate more if needed
- Risks on rates still to the downside, NZD too high
- RBNZ considers intervention at each meeting
AUD/NZD buying prevalent also.