NZ dollar gains after RBNZ signals rates still going up

Thu, 11 Dec 2014

By Paul McBeth Dec. 11 (BusinessDesk) - The New Zealand dollar rose after the Reserve Bank kept its key rate on hold, while signalling interest rates will have to go up as the economy grows at a faster pace. The kiwi climbed to 78.12 US cents from 77.01 cents at 8am and 76.83 cents yesterday. The trade-weighted index advanced to 78.41 from 77.45 yesterday. RBNZ governor Graeme Wheeler kept the official cash rate at 3.5 percent, and said future rate hikes will be more gradual than previously expected due to modest inflation pressures. H...

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