The is mandated with keeping annual at between 1 and 3%. The annual rate was 0.4%in the second quarter. In a speech, Assistant Governor John McDermott said that September quarter , to be announced October 18, is expected to be low.
The kept the official cash rate on hold at 2.0% in September but left the door open for more rate cuts. McDermott said: “Our current projections and assumptions indicate that further policy easing will be required to ensure that future settles near the middle of the target range.”
The assistant governor's speech has sparked a new bout of selling on the NZD as traders continue to price in a rate cut at their November meeting. We stay on the AUD/NZD .
Source: GrowthAces.com - Daily Forex Trading Strategies