“Monetary policy stance still holds despite the Delta outbreak,” the Reserve Bank of New Zealand (RBNZ) Chief Economist Yuong Ha said in a statement on Monday.
Key quotes
“Delta variant raises some economic uncertainty but not a 'game-changer'.”
“There is no pressure to act on monetary policy.”
“Currency is performing as it normally does.”
“New Zealand going into nationwide lockdown at a better economic starting point.”
Market reaction
The encouraging remarks from the RBNZ officials add to the rebound in the NZD/USD pair, as it recaptures 0.6850 amid the risk-on market mood and the US dollar’s weakness. The spot is up 0.40% on the day, currently trading at 0.6851.
