Kiwi dollar tumbles as US Fed pencils in rate hikes

Thu, 17 Jun 2021

The New Zealand dollar and share market fell after the United States Federal Reserve signalled it expects rate hikes in 2023 as economies improve and inflation builds. While investors had been expecting the central bankers might bring a rate increase forward, two increases were “a hawkish surprise”, said BNZ’s Nick Smyth. The market’s reaction was swift, with the yield on both long- and short-term government bonds spiking approximately 10 basis points as investors priced in expectations of rising interest rates...

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