NZ dollar rises to 5-month high after RBNZ hikes rates, signals more to come

Wed, 12 Mar 2014

By Tina Morrison and Suze Metherell March 13 (BusinessDesk) – The New Zealand dollar jumped to a five-month high after the Reserve Bank raised the benchmark interest rate as expected and signalled further hikes are on the way. The kiwi rose as high as 85.26 US cents, from 84.73 cents immediately before the Reserve Bank’s 9am statement. The local currency recently traded at 85.20 cents. Reserve Bank governor Graeme Wheeler lifted the official cash rate a quarter-point to 2.75 percent in the first move of a tightening cycle, and signalled the...

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