NZD to remain under pressure
Janet Yellen took weight off of the RBNZ’s back by increasing the federal fund rate last Wednesday. Indeed, the move will prevent Governor Wheeler to lower the official cash rate further. As a reminder, the OCR was trimmed four times over the past eight months (from 3.50% to 2.50% on December 10th) in an attempt to boost exports and to bring inflation back within the 1%-3% target range. Looking at the latest projections, the RBNZ pushed back the timeframe for reachin…
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