NZ dollar gains after stronger-than-expected inflation data

Tue, 18 Oct 2016

By Jonathan Underhill Oct. 18 (BusinessDesk) - The New Zealand dollar rose after figures showing stronger-than-expected third-quarter inflation reduced the odds that the Reserve Bank will have to make more than one further rate cut during this easing cycle. The local currency rose to 71.85 US cents as at 5pm in Wellington from 71 cents late yesterday. The trade-weighted index rose to 77.10 from 76.44. The consumers price index rose 0.2 percent in the third quarter, while economists were expecting no change, while the annual increase, a...

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