NZ dollar, swap rates kick up after RBNZ's Wheeler holds back rhetoric

Tue, 23 Apr 2013

April 24 (BusinessDesk) - The New Zealand dollar rose as much as 0.7 percent against the greenback after Reserve Bank governor Graeme Wheeler backed off from talking down the currency at today's monetary policy review where he kept the benchmark rate unchanged. Wheeler held the official cash rate at 2.5 percent, as expected, saying inflation is set to stay near the bottom of his target band of between 1 percent and 3 percent this year, but will "gradually rise towards the 2 percent target midpoint." After saying the kiwi was "overvalued an...

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