Central BanksMedium•28 October 2026•
1 min read
RBNZ Holds Interest Rates at 2.75% as NZD Weakens
Key Facts
1The Reserve Bank of New Zealand (RBNZ) maintained interest rates at 2.75% during its latest meeting.
2The NZD/USD pair fell below the 0.5600 level for the first time since October 15.
The Reserve Bank of New Zealand (RBNZ) maintained interest rates at 2.75% during its meeting on October 28, 2026. FXStreet reported that the decision to hold rates steady disappointed market participants who had priced in a high probability of a rate hike.
The NZD/USD pair fell below the 0.5600 level for the first time since mid-October 2026 following the announcement. In related economic data, the ANZ Business Confidence index rose to 52.5 on October 29, 2026, up from the previous reading of 51.9.
New Zealand's labor market data is scheduled for release on November 3, 2026, featuring the unemployment rate and quarterly employment change, which are expected to influence future monetary policy direction.