Market news
13.12.2023, 04:35

New Zealand’s government removes employment from RBNZ mandate

New Zealand’s new coalition government passed legislation on Wednesday, abandoning the Reserve Bank of New Zealand's (RBNZ) dual mandate, now only focusing on price stability. 

New Zealand’s Finance Minister Nicola Willis amended the Remit for the RBNZ’s Monetary Policy Committee (MPC), removing the objective to support maximum sustainable employment, MNI reported. Willis kept the bank's 1-3% inflation target.

"Alongside the new Remit, the MPC has also agreed to changes to the MPC's Charter with the Minister of Finance," the RBNZ noted in a statement. "The Charter sets out decision-making processes and transparency requirements for the MPC,” said the central bank.

Market reaction

The NZD/USD pair has come under renewed selling pressure in the last hour, having hit intraday lows at 0.6093. The spot is trading at 0.6100, down 0.51% on the day, as of writing.

New Zealand Dollar price today

The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies today. New Zealand Dollar was the weakest against the US Dollar.

  USD EUR GBP CAD AUD JPY NZD CHF
USD   0.10% 0.14% 0.05% 0.15% 0.24% 0.59% 0.05%
EUR -0.10%   0.05% -0.04% 0.04% 0.14% 0.48% -0.05%
GBP -0.15% -0.05%   -0.09% 0.00% 0.09% 0.43% -0.10%
CAD -0.08% 0.04% 0.08%   0.06% 0.16% 0.52% -0.03%
AUD -0.13% -0.05% 0.00% -0.08%   0.09% 0.44% -0.10%
JPY -0.24% -0.13% -0.10% -0.19% -0.12%   0.37% -0.17%
NZD -0.59% -0.49% -0.44% -0.52% -0.44% -0.34%   -0.54%
CHF -0.06% 0.04% 0.09% 0.02% 0.09% 0.17% 0.53%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).

 

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location