India, July 9 -- The New Zealand dollar retreated from recent highs against other major currencies in the Asian session on Wednesday, after the Reserve Bank of New Zealand's (RBNZ) widely anticipated decision to maintain rates constant.
The Reserve Bank of New Zealand left its benchmark interest rate unchanged, citing elevated level of uncertainty and near-term risks to inflation.
The Monetary Policy Committee, governed by Christian Hawkesby, decided to hold the Official Cash Rate at 3.25 percent.
The bank has paused the easing cycle for the first time since it started cutting rates in August 2024. The current borrowing cost is the lowest level since August 2022.
Traders are reluctant to make significant moves amid the lingering uncerta...