Swap rates fall as tepid NZ inflation cools case for rate hike

Tue, 17 Jul 2012

By Paul McBeth July 17 (BusinessDesk) - The New Zealand dollar and swap rates fell as the nation's tepid inflation figures may push out the timing of future interest rate hikes as household demand remains weak. The two-year swap rate fell 3.3 basis points to a month-low 2.58 percent and the kiwi dollar declined to 79.64 US cents from 79.74 cents after government figures showed the consumers price index increased 0.3 percent in the three months ended June 30. That was lower than the 0.5 percent pace forecast by a Reuters survey of economist...

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