RBNZ leaves interest rates on hold. Kiwi exchange rate still “unjustified”

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The Reserve Bank of New Zealand released its monthly monetary policy late last night and as widely expected, left interest rates unchanged at 3.5%. The monetary policy statement was strangely missing any hints of hawkishness seen in the previous monetary policy statement. Undoubtedly, the Kiwi sunk against most of its peers, especially against a stronger and volatile US Dollar. In the statement...

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