NZ dollar climbs to 2-week high after RBNZ looks through soft inflation, keeps OCR at 2.5 percent

Thu, 25 Oct 2012

By Paul McBeth Oct 25 (BusinessDesk) - The New Zealand dollar rose to a two-week high after Reserve Bank governor Graeme Wheeler kept the benchmark rate on hold in his debut review and gave no indication rates will go lower, disappointing traders looking for an easing bias. The kiwi dollar rose to 82.17 US cents at 5pm in Wellington from 81.59 cents at 8am and 81.26 cents yesterday. The trade-weighted index advanced to 73.35 from 72.58 yesterday. Wheeler kept the official cash rate on hold at 2.5 percent, saying the level was appropriate “...

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