NZ dollar hits new 2 1/2-month high as return of inflation marks end of RBNZ easing cycle

Wed, 25 Jan 2017

By Paul McBeth Jan. 26 (BusinessDesk) - The New Zealand dollar rose to a two-and-a-half-month high after inflation climbed back into the Reserve Bank's target band, effectively putting the kybosh on the prospect of further rate cuts. Government figures today showed the consumers price index rose 0.4 percent in the December quarter for an annual increase of 1.3 percent as the recovery in global oil prices pushed up local petrol costs and as the rampant housing market continues to drive rapid house price gains. The local currency climbed a...

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