NZ dollar stalls after NAB raises mortgage rates

Thu, 24 Jan 2019

By Jenny Ruth Jan. 24 (BusinessDesk) - The New Zealand dollar is little changed, dragged off its highs after National Australia Bank said it will be raising interest rates on its mortgage products by between 12 and 15 basis points to respond to sustained increases in funding costs there. The kiwi was trading at 67.86 US cents at 5pm in Wellington, down from the day’s high of 68.10 cents and from 67.90 cents at 8:30am. The trade-weighted index eased to 73.62 points from 73.66. National Australia Bank, which owns Bank of New Zealand, had...

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