NZ dollar edges up as tepid inflation keeps rate hike pressure off RBNZ

Tue, 16 Jul 2013

By Paul McBeth July 16 (BusinessDesk) - The New Zealand dollar edged up in local trading as the lowest annual pace of inflation in 14 years gives the Reserve Bank room to keep interest rates on hold, as rising construction costs stay contained. The kiwi rose to 78.28 US cents at 5pm in Wellington from 78.08 cents at 8am and 78.14 cents yesterday. The trade-weighted index traded at 74.35 from 74.26 yesterday. Government figures showed the consumers price index rose at an annual 0.7 percent pace in the June quarter, the lowest level since 1...

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