Investing.com - The Reserve Bank of New Zealand (RBNZ) held rates at a record low of 1.75 percent on Thursday and called for a weaker kiwi.
"A lower New Zealand dollar would help to increase tradables inflation and deliver more balanced growth," said acting Governor Grant Spencer, in a statement accompanying his first rates decision since previous governor Graeme Wheeler stepped down this month at the end of his five-year term.
The decision came just days after an inconclusive national election that left the country not knowing which parties would form its next government. NZD/USD traded at $0.7218 from around
$0.7223 before the statement was released.