Published April 23, 2022 7:00 am est
by Richard F. Cason, 
Currency Analyst, NewsMovesmarketsForex
Key Take away’s-
- RBNZ Raised the Official Cash Rate to 1.50 percent
- NZD strengthens against the USD by 62 points before Whipsawing to a swing low of .06783
- RBNZ Committee increased rates mainly because of global consumer inflation and Geopolitical tension
- Committee noted that Russian Ukraine conflict has disrupted supply chains pushing international traded commodities and energy prices higher
The Reserve Bank of New Zealand committee met on April 13, 2022, unanimous agreed to raise the official cash rate to 1.50 percent. The highest level in over twenty year’s. After the News release hit the wire the NZDUSD immediately spiked higher from an intra low of .6830 to a high of .06900. As of this writing the NZDUSD is trading at .67720, 130 Points lower from the high set 9 hours earlier. The U.S. Dollar has strengthen significantly against the NZD in overnight trading. As of 6:30am NZDUSD exchange rate is .067751 down -1.12% three hours prior to the opening bell of the New York American trading session.
Be sure to catch our informative story on the previous Republic Bank of New Zealand 2022 rate hike, RBNZ Raise the OCR to 1 Percent, NZDUSD Makes 68 Point Bullish Run Feb 22, 2022
New Zealand Mortgage and Inflation rate on the rise
The RBNZ committee said that mortgage rates have risen broadly consistent with the outlook for the Official Cash Rate in the Reserve Bank’s February Monetary Policy Statement. Higher New Zealand dollar against trading-partner currencies has assisted to partly offset higher import prices for local consumers. Furthermore, headline inflation is rising largely as a result of disrupted supply chains and higher world commodity prices. these higher commodity prices are increasing both imported inflation and also the incomes of some New Zealand exporters, Domestic demands pressures, relative to supply capacity, are also pushing New Zealand core inflation above the Bank’s 1 to 3 percent target rage.
10:41 am est NZDUSD Swing Low .6753 currency rate
