New Zealand dollar rises after Central Bank's rate decision

The New Zealand dollar rose against most major currencies on Wednesday, following the central bank monetary policy decision and statement.

The Reserve Bank of New Zealand held the interest rate at 0.25% unchanged, and kept the size of the asset purchase program at $100 billion.

The bank stated that the lending and spending program would continue due to the existing economic conditions, and will continue until June 2022.

The central bank showed readiness to cut interest rates further if needed, and stressed that it will continue to closely monitor the economic conditions, especially inflationary pressures, disruption of supply chains and the rise in oil prices.

As of 15:41 GMT, NZD/USD rose 1.3% to 0.7146, after hitting a high of 0.7150 and a low of 0.7047.