The New Zealand dollar rose against major peers on Tuesday after the Reserve Bank of New Zealand left its official cash rate at 5.5% and delivered a more hawkish message on inflation than markets had expected, signaling policy will stay restrictive and pushing rate-cut expectations further out. NZD/USD climbed to 0.6120 from about 0.6080 before the decision, while money markets reduced the implied chance of a cut before mid-2025. Analysts said the central bank used forward guidance to counter aggressive easing bets, a stance that supports the currency but points to mortgage and business borrowing costs staying elevated for longer. Traders are now watching New Zealand employment and inflation data, alongside commodity prices and China's economy, for clues on the timing of any policy shift.