Kiwi gains as RBNZ goes easier on banks than feared

Thu, 05 Dec 2019

The New Zealand dollar rose about a quarter of a US cent after the Reserve Bank's new capital requirements for the nation's trading banks weren't as severe as some had feared. The kiwi traded at 65.46 US cents at 1.05pm from 64.24 cents immediately before the release. The year-long consultation got so heated at one stage that Finance Minister Grant Robertson waded in and called for cooler heads to prevail. The New Zealand Bankers’ Association - which lobbies on behalf of the licensed lenders - today welcomed the end of the review...

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