That headline seems to be the consensus on the Reserve Bank of New Zealand announcement:

RBNZ leave rates on hold, as expected

ie. that the RBNZ, while expected to keep the cash rate unchanged, was expected to be a little more forthright on the need for further easing.

The NZD response:

This also, via Westpac, in brief:

  • a weak easing bias which was slightly less dovish than analysts or markets had expected.