NZ dollar holds gains as Wheeler cites house-price inflation, US impasse continues

Thu, 03 Oct 2013

Oct. 3 (BusinessDesk) – The New Zealand dollar held its gains after jumping at the start of the day when Reserve Bank Governor Graeme Wheeler said he would raise interest rates more aggressively if mortgage lending limits don’t curb house-price inflation. The kiwi traded at 83.07 US cents at 5pm in Wellington, having jumped about half a cent following Wheeler’s statement, from 82.21 cents yesterday. The trade-weighted index rose to 77.04 from 76.44 yesterday. Wheeler, who has faced criticism from banks, opposition MPs and builders over limits...

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