New Zealand (NZ) Deputy Prime Minister and Finance Minister Grant Robertson said on Monday that the “Reserve Bank of New Zealand (RBNZ) has a responsibility to address inflation.”
“RBNZ needs to look through current events,” Roberston added.
The RBNZ is scheduled to meet this Wednesday for its policy decision, with uncertainty around a 50 bps or 25 bps rate hike looming, in the face of the recent flooding and cyclone disasters.
Market reaction
Amidst a mixed market mood, NZD/USD remains depressed below 0.6250 so far this Monday. The spot is down 0.07% on the day.