NZD is the biggest mover today among the major currencies losing more than 100 pips against most of the majors.
Reserve Bank of New Zealand (RBNZ) revealed that it was considering policies to curb investor activity in the housing market. RBNZ statement said that they have begun a consultation period with the public to seek a viable definition of a property investment loan.
Markets viewed the RBNZ move would likely delay the need for future interest rate hikes, with potential curbs on housing investment loans which resulted in dragging the Kiwi lower.
Reserve Bank of New Zealand (RBNZ) revealed that it was considering policies to curb investor activity in the housing market. RBNZ statement said that they have begun a consultation period with the public to seek a viable definition of a property investment loan.
Markets viewed the RBNZ move would likely delay the need for future interest rate hikes, with potential curbs on housing investment loans which resulted in dragging the Kiwi lower.
