This evening on Wednesday March 7th 2012 at 20:00 GMT (15:00 EST) the Interest Rate Decision and accompanying statement were released from the RBNZ. All analysts expected the RBNZ to hold rates steady at 2.5% and that is exactly what happened, however as often happens with this release, despite no change to rates, the Kiwi Dollar price moves according to the statement which is released which is closely watched to try and figure out what and when the next move out of the RBNZ will be.
This time RBNZ's Bollard brought up the rapid appreciation of the New Zealand dollar as being a factor which makes further hiking of Interest Rates Unnecessary.
Here is a link to the statement.
Here is the 30 second chart of the NZDUSD and NZDJPY both sold off when Bollard made this statement.
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