NZ dollar hits 9-month high on TWI basis after Wheeler warns on housing inflation

Thu, 06 Dec 2012

By Paul McBeth Dec. 6 (BusinessDesk) - The New Zealand dollar rose to a nine-month high on a trade-weighted basis after Reserve Bank governor Graeme Wheeler kept the benchmark interest rate unchanged and warned about the threat of inflation in the housing market. The trade-weighted index rose as high as 74.15, the highest since Feb. 20, and traded at 74.03 at 5pm in Wellington from 73.52 yesterday. The kiwi advanced to 82.87 US cents at 5pm from 82.55 cents at 8am and 82.48 cents yesterday. RBNZ's Wheeler kept the official cash rate at 2.5...

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