CORRECT RBNZ keeps OCR unchanged; kiwi initially spikes as traders discern less dovish language

Wed, 30 Oct 2013

(Corrects fourth paragraph to show growth estimate is for year to September) Oct. 31 (BusinessDesk) – Reserve Bank governor Graeme Wheeler kept the official cash rate at a record-low 2.5 percent as expected though the kiwi dollar spiked higher as traders initially deemed his language less dovish than they had expected. The New Zealand dollar jumped as high as 82.80 US cents after the statement from 82.23 cents immediately before, and the trade-weighted index gained to as much as 76.58 from 76.11. Wheeler reiterated that he will raise the OCR...

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