NZ dollar gains ahead of RBNZ statement that may point to earlier rate hike

Wed, 10 May 2017

By Jonathan Underhill May 11 (BusinessDesk) - The New Zealand dollar rose ahead of the Reserve Bank's monetary policy statement, which is expected to see the official cash rate kept at 1.75 percent but with an interest rate hike signalled sooner than in its last MPS three months ago. The kiwi advanced to 69.34 US cents as at 8am in Wellington from 69.01 cents late yesterday. The trade-weighted index rose to 75.83 from 75.40. Economists say that with inflation expectations on the rise and the consumers price index back within the centra...

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