In an interview with Bloomberg TV, the Reserve Bank of New Zealand (RBNZ) Chief Economist Yuong Ha said that the QE program will be ready for the month of May, if needed.
Bond buying from RBNZ would be downward pressure on the NZD, Ha added.
NZD/USD reaction
The Kiwi trades with size-able losses near 0.6030 region amid RBNZ’s latest headlines and a collapse in China’s activity numbers for Jan-Feb. The spot keeps its corrective mode intact following a rally to 0.6153, in response to the US Fed’s surprise rate cut to zero late Sunday.
- NZD/USD: Under pressure towards 0.6000 on comments from RBNZ’s Hawksby
- RBNZ’s Hawkesby: Rate cut gives sufficient time to reassess situation
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