The NZD is tumbling after the RBNZ surprised markets with a chunky downside revision to the OCR projection.
The Minutes revealed that there was also discussions of a 50 basis point cut, but the board decided on a 25 move.
At the time of writing, the NZDUSD has taken out big support around the 0.8550 mark and is trading at its lowest level since April.
This article was written by Arno V Venter at investinglive.com.