ECB Eyes Rate Hike Amid Iran Conflict-Driven Energy Price Surge 
Singapore Tightens Monetary Policy Amid Middle East War Inflation Risks 
Bank of Japan's Ueda Flags Low Real Interest Rates as Key Factor in Rate Hike Timing 
Bank of Japan Unveils New Inflation Gauge to Support Case for Future Rate Hikes 
RBNZ Holds Rates at 2.25% as Middle East Conflict Fuels Inflation Concerns 
India's Central Bank Holds Rates Amid Iran War Energy Shock 
Morgan Stanley: Fed Rate Cuts Still on Track Despite Oil-Driven Inflation 
RBA's Hauser Flags Uncertainty on Rate Settings Amid Iran War Economic Risks 
Bank of Japan Governor Signals Accommodative Stance Amid Negative Real Rates 
As expected, the Reserve Bank of New Zealand (RBNZ) lowered interest rates by 50 bpbs to 4.75%. The RBNZ said that it is appropriate to cut the rate by 50 bpbs to achieve and maintain low and stable inflation. The inflation is maintained with its target range 1-3% and converging on the 2 percent midpoint.
Business investment and consumer spending have been weak, and employment conditions continue to soften
Global economic growth remains below its long-run trend and is expected to remain so for the year ahead. Economic growth in the United States and China is expected to slow.
Members agreed that increasing excess capacity leads to lower inflationary pressure in the New Zealand economy. Economic growth is partly weak because of low productivity growth, but mostly due to weak consumer spending and business investment.
Major resistance- 0.6205
Near-term resistance - 0.6150
Minor support- 0.6050,0.6000
Trend reversal level- 0.6620
