RBNZ keeps OCR at 2.25% as committee splits on hike
The RBNZ has held its official cash rate at 2.25%, as expected, with the committee voting 3-3 on a potential rate hike.
The decision comes as Australia’s April CPI slowed to 4.2%, below expectations of 4.4%.
China’s industrial profits rose 18.2% year-over-year from January to April, exceeding the prior increase of 15.5%.
The NZD jumped following the RBNZ’s decision, while the PBOC set the USD/CNY mid-point at 6.8291, higher than estimated.