The RBNZ held a meeting on Wednesday morning, and although no significant policy changes were expected, they nevertheless presented a worthy surprise to traders:
- #QE Doubling Asset Buyback Program. An increase in the program for the acquisition of large assets (LSAP-government bonds and local government bonds) to $60 billion from $33 billion.
- The regulator gave a signal of readiness for a further reduction in rates in the area of negative values. A possible decrease to minus 0.5% in November.
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The combination of these factors will put pressure on #NZDUSD in the future. However, if the economy improves, we will see that this scenario is canceled and that will contribute to rapid growth. It is too early to make strategic decisions, we recommend considering a shorter-term trading in this currency pair.
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- #QE Doubling Asset Buyback Program. An increase in the program for the acquisition of large assets (LSAP-government bonds and local government bonds) to $60 billion from $33 billion.
- The regulator gave a signal of readiness for a further reduction in rates in the area of negative values. A possible decrease to minus 0.5% in November.
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The combination of these factors will put pressure on #NZDUSD in the future. However, if the economy improves, we will see that this scenario is canceled and that will contribute to rapid growth. It is too early to make strategic decisions, we recommend considering a shorter-term trading in this currency pair.
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[URL delete]
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