NZD tumbles after RBNZ sizeable OCR downgrade and discussions of a 50bp reduce
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The NZD is tumbling after the RBNZ shocked markets with a chunky draw back revision to the OCR projection.
The Minutes revealed that there was additionally discussions of a 50 foundation level reduce, however the board selected a 25 transfer.
On the time of writing, the NZDUSD has taken out huge assist across the zero.8550 mark and is buying and selling at its lowest degree since April.
This text was written by Arno V Venter at investinglive.com.
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