RBNZ's Wheeler has 'open mind' on currency intervention; kiwi falls

Wed, 09 Nov 2016

By Paul McBeth Nov. 10 (BusinessDesk) - Reserve Bank governor Graeme Wheeler says he has an "open mind" on intervening in foreign exchange markets as the strong kiwi dollar continues to keep a lid on inflation. The currency fell on concerns it was approaching levels that might trigger a response from the central bank. The kiwi had earlier jumped about half a US cent after the RBNZ cut the official cash rate to 1.75 percent and indicated it would stay put for at least the next two years. In the monetary policy statement, Wheeler said the e...

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