"With the RBNZ set to become one of the first central banks in advanced economies to hike rates, we think that the New Zealand dollar will continue to strengthen."
"The RBA managed to surprise us, upgrading all key forecasts more than we anticipated," said Prashant Newnaha, senior Asia-Pacific rates strategist at TD Securities.
RBNZ's caution on the outlook disappointed some traders who expected the central bank to acknowledge New Zealand's improved macroeconomic conditions since the last policy decision in November 2020.
Figures out Thursday showed prices for iron ore exports jumped by almost 12% over the December quarter, delivering a big boost to mining profits and government tax receipts.
Parry said RBNZ was aware of risks to its IT infrastructure and could have upgraded the 20-year old FTA software, but that it was not a terrible error as the systems were still working.