NZ dollar jumps after Wheeler gives less-dovish MPS, rates track little changed

Wed, 05 Dec 2012

Dec. 6 (BusinessDesk) - The New Zealand dollar rose after Reserve Bank governor Graeme Wheeler kept his forecast track for interest rates almost unchanged and gave no signal there’s room for the official cash rate to be cut. The kiwi dollar rose to 82.81 US cents from 82.49 cents immediately before the monetary policy statement was released. The trade-weighted index rose to 73.84 from 73.68. Wheeler kept the official cash rate unchanged at 2.5 percent, as expected. He called the strong kiwi dollar a “significant headwind” for the economy and...

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