Fed Unveils Stablecoin Rules Under GENIUS Act 
UK Housebuilder Stocks Surge on New First-Time Buyer Loan Scheme 
Oil Surge Pressures Global Stocks as U.S.-Iran Truce Hopes Fade 
US Dollar Hits Two-Month High as Aussie, Pound Slide 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Yen in Focus as BOJ, Fed Rate Hikes Reshape Currency Markets 
BOJ Flags Import Costs and Yen Shocks as Persistent Inflation Risks 
Japan Warns Markets Over Yen Weakness 
XRP Price Targets $1.70 as Bullish Momentum Builds 
China Industrial Profit Growth Slows as Weak Demand Offsets AI Gains 
Central Banks Could Buy 20,000 Tonnes of Gold: BofA 
BOJ Raises Interest Rate to 31-Year High as Yen Weakens 
Add as a preferred source on Google
New Zealand's central bank left interest rates unchanged on Wednesday, citing growing inflation risks stemming from rising global oil prices while simultaneously cautioning about a softer near-term economic outlook. The Reserve Bank of New Zealand (RBNZ) maintained its official cash rate (OCR) at 2.25%, a decision consistent with what financial markets had widely anticipated.
Policymakers pointed to ongoing conflict in the Middle East as a key driver of supply-side disruptions, stating that the turbulence had "materially altered" the economic outlook since the bank's February meeting. Surging energy costs are expected to push headline inflation up to approximately 4.2% in the June quarter, a notable jump from 3.1% recorded in the December quarter. This would place inflation near the upper boundary of the RBNZ's 1%–3% target range through the March quarter.
Despite these inflationary pressures, the central bank flagged that elevated fuel costs and heightened global uncertainty could simultaneously suppress domestic demand. Recent indicators suggest weakening business activity and declining consumer confidence, raising concerns about the pace of New Zealand's economic recovery.
The Monetary Policy Committee described its decision as a careful balance — weighing the risk of allowing inflation to become entrenched against the danger of prematurely tightening financial conditions and undermining growth. Officials acknowledged that weak demand and spare capacity in the economy could naturally limit the broader spread of price pressures into wages and core inflation.
However, the RBNZ made clear that if inflation expectations were to become unanchored or price increases extended across a wider range of goods and services, it would not hesitate to implement decisive rate hikes. The New Zealand dollar climbed 1.4% against the U.S. dollar on Wednesday, buoyed by cautious optimism surrounding a temporary ceasefire between the United States and Iran.
