The New Zealand Dollar weakens in its most traded pairs after weak consumer confidence data. The New Zealand economy suffers from the twin evils of high inflation and weak growth, further weighing on NZD. The NZD/USD chart is showing a bearish pattern underway with new lows probably on the radar. The New Zealand Dollar is weakening across the board on Thursday, after a leading indicator of consumer confidence in New Zealand deteriorated sharply in February.
Qs What is the Reserve Bank of New Zealand? The Reserve Bank of New Zealand is the country’s central bank. Its economic objectives are achieving and maintaining price stability – achieved when inflation, measured by the Consumer Price Index , falls within the band of between 1% and 3% – and supporting maximum sustainable employment.
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