NZ dollar jumps on hawkish central bank decision

By Jenny Ruth | Wed, 12 Feb 2020


The New Zealand dollar jumped the best part of a US cent after the central bank ruled out the likelihood of further rate cuts and said the impact of the coronavirus will be fleeting. The kiwi was trading at 64.58 US cents at 5pm in Wellington, off the day's high at 64.76 cents, but up from 63.87 cents at the same time yesterday. The trade-weighted index was at 71.59 points from 70.93. The Reserve Bank held its official cash rate steady at its record low of 1 percent, as expected, but forecasts in its monetary policy statement showed the O...