On Wednesday, the New Zealand dollar declined and bonds saw a rally as market expectations for an August rate cut surged following the Reserve Bank of New Zealand's indication of potential easing if inflation moderates as anticipated.
The RBNZ kept interest rates unchanged at 5.5%, noting expectations that inflation would align with target ranges in the latter half of the year. Additionally, policymakers suggested that the current policy restraint would gradually ease in line with anticipated declines in inflationary pressures.
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