RBNZ raise rates as expected, NZD choppy

• Statement refers to high NZD, says it remains a headwind but might only moderate gradually in coming years;
• Intends to raise rates to level where it’s no longer stimulative.

The NZD dipped slightly immediately after the announcement but has now started to rally again with traders focussing on the RBNZ line that NZD might only moderate slowly in near future.