The EUR/NZD currency pair was mostly steady within a tight daily range on Wednesday ahead of the outcome of the European Central Bank’s policy meeting.
The European Central Bank is largely expected to keep its main refinancing operations rate intact at 2.15% at its March 19th meeting.
And, the ECB deposit facility rate is expected to be kept at 2.00%.
ECB President Christine Lagarde had said that monetary policy was in a “good place” and played down concerns that a stronger Euro could pose a risk to the inflation outlook.
Lagarde’s remarks suggested that interest rates were likely to remain steady for the foreseeable future.
The ECB President also warned that inflation figures could move unevenly in the coming months, but emphasized that policy decisions should not be driven by any single release of data.
Meanwhile, kiwi traders will be paying close attention to New Zealand’s GDP growth data for the fourth quarter due out on Thursday.
The EUR/NZD currency pair was last down 0.05% on the day to trade at 1.9687.
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