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    NZDUSD pops up on Spencer (RBNZ) comments

    Deputy Governor of the RBNZ spoke on monetary policy and housing sector: 

    • RBNZ is concerned about growing housing imbalances
    • Contemplating further macroprudential tools to curb housing market
    • Considering tightening LTV ratios further, could be introduced by year end
    • limits on debt to income ratios may also play a role
    • Concerned about risks to financial and economic stability due to housing market imbalances
    • Further rate cuts could pose a financial stability risk
    • CPI will ultimately determine monetary policy

    These hawkish comments pushed the NZDUSD up to almost 0.7200. It seems that the RBNZ wants to wait before acting further because of the risks connected with ultra-low interest rates. With that it mind a cut on the upcoming meetings is quite unlikely, but the situation may change if data disappoints. 


    Any person acting on this information does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.

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