NZ dollar jumps as inflation stokes chance of early rate hike

Mon, 20 Jan 2014

By Suze Metherell Jan. 21 (BusinessDesk) – The New Zealand dollar rose 0.8 percent after faster than expected inflation fuelled expectations the Reserve Bank may have to hike interest rates as early as next week. The kiwi rose as high as 83.28 US cents from 82.66 cents, and recently traded at 83.19, after government figures showed inflation rose 0.1 percent in the December quarter. Economists were expecting a decline of 0.1 percent and the Reserve Bank forecast a 0.2 percent fall. “The kiwi is up half a cent very quickly on that significan...

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