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At its monetary policy meeting held on Wednesday, June 24, the Reserve Bank of New Zealand (RBNZ) left the Official Cash Rate (OCR) unchanged at a record low of 0.25% for the second straight month, as widely expected.

The RBNZ kept its quantitative easing (QE) programme size unchanged at around NZD60 billion.

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About RBNZ Interest Rate Decision

RBNZ Interest Rate Decision is announced by the Reserve Bank of New Zealand. If the RBNZ is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the NZD.