NZ dollar up on most currencies as Japan announces stimulus

Tue, 22 Jan 2013

Jan. 22 (BusinessDesk) – The New Zealand dollar rose during the local trading day as market-watchers across Asia waited for a crucial Japanese monetary policy decision. That decision came just after 5pm and saw the Bank of Japan announce a doubling in the country’s inflation target to 2 percent and adoption of a US Federal Reserve-style quantitative easing programme of bond-buying. Bloomberg reported the moves as the most significant commitment yet to end two decades of deflation in the huge but moribund Japanese economy. The announcement s...

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