NZ dollar jumps as RB stays firm on future OCR hikes

Thu, 12 Jun 2014

By Suze Metherell June 12 (BusinessDesk) - The New Zealand dollar surged against other currencies after the Reserve Bank governor Graeme Wheeler raised the official cash rate for a third time as expected and kept projected interest rate rises in line with his March projections. The kiwi rose to 86.50 US cents at 5pm in Wellington from 85.53 cents at 8am and 85.48 at 5pm yesterday. The trade-weighted index advanced to 80.69 from 79.79. Wheeler hiked the OCR a quarter-point to 3.25 percent, his third increase since he began his tighten...

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