Heading into the Reserve Bank of New Zealand (RBNZ) monetary policy decision due to be announced this Wednesday, the New Zealand Institute of Economic Research (NZIER) Monetary Policy Shadow Board continues to favor the expansion of the quantitative easing (QE) program to adopting negative interest rates for additional stimulus. Key quotes “Fewer Board members see further quantitative easing as appropriate over the coming year.“ “Although an expansion of quantitative easing remains more favored than a negative OCR in stimulating the economy, there has been an increase in appetite amongst Shadow Board members to introduce a negative OCR over the coming year.” “Some Shadow Board members continue to highlight their skepticism about the effectiveness of a negative OCR in stimulating the economy.” Market reaction Despite dovish RBNZ expectations and risk-off mood, NZD/USD stays well bid above 0.6750. The spot continues to benefit from the country’s lowering of the coronavirus alert level to 1 while the Chinese central bank keeps the interest rates on hold. At the press time, NZD/USD gains 0.16% to trade at 0.6771. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD Price Analysis: Keeps pullback from 10/21-day SMA confluence FX Street 2 years Heading into the Reserve Bank of New Zealand (RBNZ) monetary policy decision due to be announced this Wednesday, the New Zealand Institute of Economic Research (NZIER) Monetary Policy Shadow Board continues to favor the expansion of the quantitative easing (QE) program to adopting negative interest rates for additional stimulus. Key quotes “Fewer Board members see further quantitative easing as appropriate over the coming year.“ “Although an expansion of quantitative easing remains more favored than a negative OCR in stimulating the economy, there has been an increase in appetite amongst Shadow Board members to introduce a negative OCR over the coming year.” “Some Shadow Board members continue… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
