NZ dollar jumps half a cent as RBNZ signals steeper interest rate hikes next year

Wed, 11 Sep 2013

By Tina Morrison Sept 12 (BusinessDesk) – The New Zealand dollar jumped about half a cent after the Reserve Bank signalled steeper rate hikes are likely next year, increasing the country’s yield advantage for international investors. The kiwi rose as high as 81.35 US cents, from 80.80 cents immediately before the statement was released at 9am. The currency recently traded at 81.23 cents. Reserve Bank governor Graeme Wheeler kept the benchmark rate at 2.5 percent for now, but signalled expected rate hikes next year will likely be steeper than...

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