India, Sept. 14 -- The New Zealand dollar weakened against other major currencies in the Asian session on Monday, due to a dovish hike by the Reserve Bank of New Zealand (RBNZ).
Earlier this month, the New Zealand central bank raised the Official Cash Rate (OCR) by 25 basis points (bps) to 2.75% in a dovish rate hike. According to the RBNZ, the bank is concentrating on a "gradual removal of monetary stimulus," and the present rate is still accommodating.
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