NZ dollar pares gain as RBNZ’s Wheeler outlines monetary policy dilemma

Thu, 13 Jun 2013

By Paul McBeth June 13 (BusinessDesk) - The New Zealand dollar pared its gain against the greenback after Reserve Bank governor Graeme Wheeler kept the key interest rate on hold while he weighs up the competing inflationary effects of a heating property market and strong currency. The kiwi traded at 79.20 US cents at 5pm in Wellington from 79.56 cents at 8am, and 78.76 cents yesterday. The trade-weighted index was 73.51 from 73.45 yesterday. Wheeler kept the official cash rate at 2.5 percent, saying he doesn’t expect to raise it this year...

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