The New Zealand Dollar fell to $0.7 in mid-July, amid accelerating infection rates of the coronavirus Delta variant across the Asian-Pacific that threatens to slow the economic recovery. On the policy front, the RBNZ decided to halt additional asset purchases under the Large Scale Asset Purchase programme by July, 23rd while keeping its cash rate on hold at a record low 0.25%. Policymakers noted that some monetary stimulus remains necessary but its level could be reduced to minimize the risk of not meeting consumer price and employment objectives over the medium-term. In recent data, services activity in New Zealand grew at a faster rate in June, with the three-month average hitting its second-highest on record.
Historically, the New Zealand Dollar reached an all time high of 1.49 in October of 1973. New Zealand Dollar - data, forecasts, historical chart - was last updated on July of 2021.
The New Zealand Dollar is expected to trade at 0.69 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.68 in 12 months time.