Central BanksMedium•28 October 2026•
1 min read
NZD Slumps as RBNZ Unexpectedly Holds Interest Rates Unchanged
Key Facts
1The NZD/USD pair fell 0.98% to trade around 0.5625 following the central bank's decision.
2The Reserve Bank of New Zealand (RBNZ) unexpectedly left its benchmark interest rate unchanged.
The Reserve Bank of New Zealand (RBNZ) unexpectedly left its benchmark interest rate unchanged on October 28, 2026. FXStreet reported that the NZD/USD pair fell 0.98% to trade around 0.5625 following the central bank's announcement.
The decision to hold rates at 2.75% came against market forecasts of a hike to 3%. The unexpected hold created immediate selling pressure on the New Zealand Dollar as traders positioned themselves ahead of upcoming policy decisions from the Federal Reserve.
Looking ahead, the ANZ Business Confidence report is scheduled for release on October 29, 2026, followed by high-impact employment and unemployment data on November 3, 2026.