NZ dollar gains after RBNZ signals end of cutting cycle

Thu, 10 Dec 2015

By Paul McBeth Dec. 10 (BusinessDesk) - The New Zealand dollar gained after the Reserve Bank signalled an end to its current round of rate cuts, having previously left the door open if the currency remained too high. The kiwi rose to 67.38 cents at 5pm in Wellington from 66.36 cents immediately before the release and 66.28 cents yesterday. The trade-weighted index advanced to 73.02 from 72.10 yesterday. RBNZ governor Graeme Wheeler cut the official cash rate a quarter-point to 2.5 percent, a level he said was low enough to spur infla...

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