NZ central bank raises OCR a third time to 3.25%, keeps track broadly intact; kiwi jumps

Wed, 11 Jun 2014

By Jonathan Underhill June 12 (BusinessDesk) - The Reserve Bank of New Zealand raised the official cash rate for a third time while keeping its track for interest rates broadly in line with its March projections, suggesting the bank sees no need to pause in removing stimulus in an accelerating economy. The New Zealand dollar jumped three quarters of a cent against the US dollar following the announcement. Governor Graeme Wheeler raised the OCR to 3.25 percent, as expected, saying as inflationary pressures are expected to increase, “it is...

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