AUD/NZD Surges to 13-Year High Following RBNZ Rate Hold

Key Facts

1The AUD/NZD cross rallied to its highest level since March 2013 during Wednesday's Asian session.

2The rally was driven by hot Australian inflation figures and a surprise on-hold rate decision by the Reserve Bank of New Zealand.

The AUD/NZD cross rallied to its highest level since March 2013 during Wednesday's Asian session on October 28, 2026. FXStreet reported that the surge was driven by hot Australian inflation figures and a surprise decision by the Reserve Bank of New Zealand to keep interest rates unchanged.

The Reserve Bank of New Zealand (RBNZ) held interest rates steady at 2.75% on October 28, 2026, defying market forecasts for a hike to 3%. Stronger domestic inflation in Australia has fueled expectations of a more hawkish Reserve Bank of Australia, creating a divergence in monetary policy paths that weakened the New Zealand Dollar.

Market attention now turns to the ANZ Business Confidence data in New Zealand scheduled for October 29, 2026. This will be followed by high-impact employment data on November 3, 2026, including the quarterly Unemployment Rate and Employment Change figures.

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