NZ dollar gains ahead of Wheeler speech which may hint at rate-cut prospects

Mon, 22 Aug 2016

By Jonathan Underhill Aug. 23 (BusinessDesk) - The New Zealand dollar rose ahead of a speech by Reserve Bank governor Graeme Wheeler which may hint at the timing of further easing, with at least one further cut expected this year. The kiwi rose to 72.73 US cents at 8am in Wellington from 72.16 US cents late yesterday. The trade-weighted index rose to 77.03 from 76.64. Wheeler is scheduled to give a speech at 9am this morning on the challenges of monetary policy in volatile times. He used an unscheduled economic update last month to si...

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