NZD/USD in focus as RBNZ holds at 2.75% but flags more hikes: Oct 28, 2026
The New Zealand dollar is in focus after the Reserve Bank of New Zealand left its cash rate unchanged at 2.75% in a surprise 4-3 vote, against expectations for a hike. The bank said tighter policy is still likely, with policymaker Breman pointing to more hikes at coming meetings, possibly into restrictive territory.
Updated
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The day on the wire
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Each tick is a headline first seen that day.
Headlines (14)
First seen on October 28
- OCR held at 2.75%rbnz.govt.nz
- RBNZ Surprises with 4–3 Hold at 2.75%, but Further Rate Hikes Remain LikelyActionForex
- New Zealand Central Bank Surprises Markets With Rate HoldThe Wall Street Journal
- RBNZ holds OCR at 2.75% in surprise 4-3 vote, says tighter policy still likelyInvestingLive
- RBNZ leaves its cash rate unchanged, they were expected to hikeInvestingLive
- RBNZ’s Breman: more hikes likely at coming meetings, possibly into restrictive territoryInvestingLive
- AUD/NZD Breaks Higher as RBNZ Surprise Widens RBA Policy DivergenceActionForex
- European markets brace for Fed decision as hot Australia CPI, RBNZ surprise and oil rally stir nervesInvestingLive
Carried over from earlier days
- Major central banks take centre stage this week but will there be any surprises?InvestingLive
- Reserve Bank of New Zealand: October rate hike now seen – TD SecuritiesFXStreet
- AUD/USD, NZD/USD Face Explosive CPI, RBNZ DoubleheaderInvesting.com
- New Zealand Dollar: RBNZ hike supports Kiwi against US Dollar – INGFXStreet
- What can we expect from the RBNZ monetary policy decision?FXStreet
- All 5 major NZ banks expect RBNZ to hike to 3% today, but split on how far rates will goInvestingLive
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Wednesday, October 28 | ||
| RBNZ Rate Statement | NZD | |
| Official Cash Rate | 3.00% | NZD |
| RBNZ Press Conference | NZD | |
| Prelim Wholesale Inventories m/m | 0.5% | USD |
| Goods Trade Balance | -130.4B | USD |
| Crude Oil Inventories | 0.1M | USD |
| Federal Funds Rate | 4.00% | USD |
| FOMC Statement | USD | |