NZD/USD traded higher on the inflation-fighting RBNZ statement

The post on the decision is here:

• Reserve Bank of New Zealand leaves it cash rate at 5.5%, as widely expected

Of importance was this from the Bank:

• Committee is confident that maintaining the OCR at a restrictive level for a sustained period will return consumer price inflation to within the 1 to 3 percent target range this calendar year

Bolding is mine.

NZD/USD popped up but has since come back to be little changed as I update:

Don't forget the RBNZ no longer has a full employment mandate:

• New Zealand's new government now requires the RBNZ to focus solely on inflation.