NZ dollar gains after inflation data fuels appetite for early rate hike

Tue, 21 Jan 2014

By Paul McBeth Jan. 21 (BusinessDesk) - The New Zealand dollar rose after an unexpected lift in inflation in the December quarter raised the chance of the Reserve Bank hiking interest rates as early as next week. The kiwi rose to 83.21 US cents at 5pm in Wellington from 82.61 cents at 8am and 82.43 cents yesterday. The trade-weighted index advanced to 79.09 from 78.37 yesterday. New Zealand’s consumers price index increased 0.1 percent in the December quarter against market expectations of a 0.1 percent decline and the Reserve Bank’s fore...

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