NZ dollar heads for 1.4 percent weekly gain after RBNZ quashes rate cut talk

Fri, 07 Dec 2012

By Paul McBeth Dec. 7 (BusinessDesk) - The New Zealand dollar is headed for a 1.4 percent gain this week after Reserve Bank governor Graeme Wheeler quashed expectations for a rate cut, singling out the country's inflationary pressures as his number one bugbear. The kiwi traded at 83.18 US cents at 5pm in Wellington from 83.12 cents at 8am and 82.87 cents yesterday. The trade-weighted index climbed to 74.42 from 74.03 yesterday, and is heading for a 1.1 percent weekly gain. Traders have wound back their expectations for a rate cut after RBN...

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