• The Reserve Bank of New Zealand is set to hold the interest rate at 5.50% on Wednesday.
• The language in the policy statement will offer cues on the RBNZ interest rate outlook.
• The New Zealand Dollar braces for a big reaction to the RBNZ policy announcements.

The Reserve Bank of New Zealand (RBNZ) is widely expected to maintain the Official Cash Rate (OCR) at 5.50% for the sixth consecutive meeting in a row following the conclusion of its monetary policy meeting on Wednesday.

The New Zealand Dollar (NZD) is primed for a big market reaction to the RBNZ policy announcements despite the absence of RBNZ Governor Adrian Orr’s press conference and the publication of updated economic projections.