New Zealand's central bank held rates when a hike was expected, and the kiwi dollar fell
The Reserve Bank of New Zealand left its official cash rate at 2.75% on Oct 28, 2026, after economists had almost all forecast an increase. The currency slid almost a cent against the US dollar.
A central bank that does nothing can still move a currency. That is what happened in New Zealand on Oct 28, 2026, when the Reserve Bank of New Zealand left its official cash rate (OCR) at 2.75%.
The OCR is the rate the central bank sets to steer borrowing costs across the economy. Banks tend to pass changes…
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