The New Zealand dollar strengthened against other major currencies in the European session on Friday, as investors signaled rate hike by the Reserve Bank of New Zealand's (RBNZ).
The Official Cash Rate (OCR) is expected to rise sooner and more than previously anticipated, according to RBNZ Governor Anna Breman, who made this announcement early on Friday. She cited weaker growth, increased input costs in New Zealand and its trade partners, and inflation exacerbated by the Middle East war.
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