Reserve Bank's flat OCR outlook keeps swaps unchanged as kiwi climbs

Thu, 10 Dec 2015

By Paul McBeth Dec. 10 (BusinessDesk) - New Zealand swap rates were largely unchanged, while the kiwi dollar jumped as much as 1 US cent after the Reserve Bank put the brakes on future interest rate cuts and signalled a three-year pause. The central bank cut the key rate a quarter-point to 2.5 percent, a level governor Graeme Wheeler said was enough to drive inflation back within its 1 percent to 3 percent target band. The kiwi jumped after the statement, recently trading at 67.35 US cents from 66.36 cents immediately before the release,...

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