On Wednesday New Zealand’s central bank disappointed many people by holding its interest rates fixed. The bank stated that the aggressive easing earlier this year suggested that the current policy frameworks were correct but for now there is no reason for more rate cuts.
The decision broke market expectations for a reduction and sent the New Zealand dollar up. The New Zealand dollar surged to $0.6412 from $0.6300.
Hong Kong is falling into chaos
Daily Analysis - 13/11/2019