NZ dollar jumps after Wheeler warns rates may rise more rapidly if LVR limits fail

Wed, 02 Oct 2013

By Tina Morrison Oct. 3 (BusinessDesk) – The New Zealand dollar rose after Reserve Bank Governor Graeme Wheeler said he would raise interest rates more aggressively if mortgage lending limits introduced this month don’t slow rising house prices. The kiwi jumped to 83.10 US cents at 8am in Wellington, from 82.66 cents at 7am and 82.21 cents at 5pm yesterday. The trade-weighted index rose to 77.10 at 8am from 76.70 at 7am and 76.44 yesterday. Wheeler said the central bank has introduced loan-to-value ratio limits on low equity mortgage lending...

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