NZ dollar gains as RBNZ lifts rates, sees faster economic growth

Thu, 24 Apr 2014

By Paul McBeth April 24 (BusinessDesk) - The New Zealand dollar gained against other currencies after Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while lifting his estimate for economic growth in the March year to 3.5 percent. The kiwi rose to 86.24 US cents at 5pm in Wellington from 85.92 cents at 8am and 85.94 cents yesterday. The trade-weighted index advanced to 80.21 from 79.99. Wheeler hiked the OCR a quarter-point to 3 percent, his second 25 basis points increase in as many months, as he looks to...

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