The dollar fell broadly on Thursday after the U.S. Federal Reserve maintained its interest rate cut projections for the year in the face of upside surprises on inflation, and did not strike a more hawkish tone as some investors had feared. The Australian dollar jumped after data on Thursday showed employment rebounded sharply in February and the jobless rate dived far below forecasts, pointing to a still-tight labour market there. At the conclusion of the Fed's policy meeting on Wednesday, Chair Jerome Powell said recent high inflation rate readings had not changed the underlying "story" of slowly easing price pressures in the U.S. as the central bank stayed on track for three rate cuts this year, even though it projected slightly slower progress on inflation. That knocked the greenback lower as traders were quick to rebuild bets of a Fed easing cycle beginning in June, with markets now pricing in a 75% chance of a rate cut that month, as compared to 59% chance a day ago, according to the CME FedWatch tool. With the Fed meeting out of the way, focus now turns to a rate decision from the Bank of England (BoE) later on Thursday, where expectations are for the central bank to keep rates on hold. British inflation slowed in February, official data on Wednesday showed, keeping the BoE on track to start cutting borrowing costs later this year. The New Zealand dollar was last 0.08% higher at $0.6087, though gains were capped by domestic data showing New Zealand's economy shrank slightly in the fourth quarter, putting the country into a technical recession. Despite the Bank of Japan's (BOJ) landmark shift away from negative interest rates earlier in the week, policymakers signalled that "accommodative financial conditions" were expected to be maintained for some time.