The NZD/CHF currency pair held in proximity to a 2-week high of 0.4544 on Tuesday ahead of the outcome of the RBNZ’s policy meeting on November 26th.
The Reserve Bank of New Zealand is expected to reduce its official cash rate by 25 basis points to 2.25% at its November meeting.
In October, the RBNZ delivered an out-sized 50 bps rate cut to 2.5%, citing prolonged spare capacity, subdued domestic activity and downside risks from cautious household and business behavior, which could hinder the country’s economic recovery.
Policy makers said they remained open to further easing in order to anchor inflation near the 2% objective.
Meanwhile, CHF traders will also look to Switzerland’s final GDP growth data for the third quarter, which will be released on Friday.
The Swiss economy contracted 0.5% quarter-on-quarter in Q3, reversing a 0.1% growth in Q2, according to the flash estimate.
The NZD/CHF currency pair was last little changed on the day to trade at 0.4530.
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