The RBNZ has kept the OCR (Official Cash Rate) at 5.50% for the 6th consecutive time. The RBNZ stated that monetary policy still needs to be tightened to maintain downward pressure on inflation, which may lead to a slowdown in the New Zealand economy.
Investors are awaiting consumer price index (CPI) data for March from the United States. Analysts predict that the core inflation rate will increase by 0.3%, which may lead the Federal Reserve to refrain from considering interest rate cuts in the first half of this year.
The US Dollar is likely to strengthen if inflation data exceeds expectations. Currently, the US Dollar Index (DXY) has slightly decreased to 104.00, and it is necessary to wait and see the next inflation rate.
