NZ dollar gains as RBNZ forecasts show possible earlier rate hike

Thu, 09 Nov 2017

By Rebecca Howard Nov. 9 (BusinessDesk) - The New Zealand dollar rose after the Reserve Bank brought forward the timing of a potential rate hike on the back of higher inflation, a weaker currency and fiscal stimulus. Longer-dated swap rates also rose. The kiwi dollar was trading at 69.52 US cents as at 5pm in Wellington from 69.20 cents at the start of the day and from 68.97 cents late yesterday. The kiwi rose to 90.52 Australian cents from 90.19 cents yesterday. Acting Reserve Bank governor Grant Spencer kept the official cash rate un...

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