NZ dollar gains after RBNZ's stability report reminds market of tightening bias

Wed, 12 Nov 2014

By Paul McBeth Nov. 12 (BusinessDesk) - The New Zealand dollar gained after the Reserve Bank's report on the strength of the nation's financial system reminded the market that the central bank is still in a tightening cycle, and will continue to lift interest rates when necessary. The kiwi rose to 78.24 US cents at 5pm in Wellington from 78.09 cents at 8am and 77.48 cents yesterday. The trade-weighted index advanced to 77.49 from 76.87 yesterday. The Reserve Bank's six-monthly financial stability report showed the regulator plans to ke...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.