The New Zealand dollar remained stable against major currencies on Thursday, as traders braced for the Reserve Bank of New Zealand’s (RBNZ) monetary policy statement. The central bank is widely expected to keep the official cash rate unchanged at its current level.

Analysts suggest that the RBNZ will likely reiterate its cautious outlook on the global economy and its potential impact on New Zealand’s growth. The statement will be scrutinized for any hints about the timing and pace of future rate hikes.

“The market is in a wait-and-see mode,” said a currency strategist at a major bank. “Everyone is focused on the RBNZ statement and what it might signal about the future direction of monetary policy.”

The New Zealand dollar’s performance has been influenced by a combination of domestic and international factors, including global risk sentiment and commodity prices. The currency’s strength has been a concern for some exporters, who argue that it makes their products less competitive in international markets.

Here are some factors influencing the NZD:

• RBNZ policy decisions
• Global economic outlook
• Commodity prices
• Market risk sentiment

The RBNZ’s policy announcement is scheduled for later today and is expected to be a key driver of the New Zealand dollar’s movement in the short term.