NZD drops on the RBNZ policy announcement
The Reserve Bank of New Zealand increase in its LSAP program had been flagged (link here)
But at 100bn its higher than the estimate.
The NZD fell but rebounded. Its still net lower though.
Next up, Governor Orr press conference at 0300GMT. I suspect the NZD will remain offered.
Its been an active news day from NZ:
- NZ PM Ardern says there is flexibility to move election date - not needed yet
- NZ PM Ardern says will defer the dissolution of parliament for a few days, no election delay decided as yet
- With a new COVID-19 lock down in NZ the RBNZ confirm their statement will be released as normal today
- Coronavirus - NZ fin min says govt mulling extending wage subsidy measures
- Coronavirus ICYMI - Auckland (New Zealand) is going back into lock down today