New Zealand Electronic Card Retail Sales (MoM): 0.3% (November) vs 0%

Imre Speizer, analyst at Westpac noted that the RBNZ’s Monetary Policy Statement this morning cut the OCR by 25bp to 2.50%, but gave mixed messages about any further easing (the press release said more easing is possible, the detail said they are firmly on hold). We interpret this as slightly hawkish for the market, and the market has reacted so…NZD/USD up around 1/2c.