NZ dollar holds gains after RBNZ keeps rates unchanged, sees faster inflation

Thu, 26 Jul 2012

By Paul McBeth July 26 (BusinessDesk) - The New Zealand dollar held gains in local trading after getting a leg up from the Reserve Bank decision to keep interest rates on hold inflation expected to speed up, even after last week's benign consumer prices figures. The kiwi rose to 79.11 US cents at 5pm from 78.88 cents immediately before the announcement at 9am, and was up from 78.31 cents yesterday. The trade-weighted index advanced to 71.81 from 71.26 yesterday. Central bank Governor Alan Bollard kept the official cash rate at 2.5 percent...

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