Kiwi dollar spikes as RBNZ challenged on house prices

Tue, 24 Nov 2020

The kiwi dollar lifted more than half a US cent after Finance Minister Grant Robertson proposed adding house prices to the RBNZ’s mandate, dashing any remaining expectations of interest rate cuts. The currency spiked as news wires lit up with reports of the minister’s letter urging Reserve Bank governor Adrian Orr to consider the effect monetary policy was having on house prices. The kiwi peaked at 69.89 US cents - up from 69.30 - before easing to 69.70 at 5pm when Orr penned a response in which he agreed to consider the s...

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