UPDATE: NZ dollar soars as Wheeler cuts OCR to 2%, says further easing required

Wed, 10 Aug 2016

(Adds market comment, RBNZ forecasts for TWI, interest rates) By Paul McBeth Aug. 11 (BusinessDesk) - The New Zealand dollar soared more than 1 US cent after Reserve Bank governor Graeme Wheeler cut the official cash rate to 2 percent, as expected, and said further easing is required, still a less-dovish statement than some in the market had been expecting. "Monetary policy will continue to be accommodative," Wheeler said in the statement. "Our current projections and assumptions indicate that further policy easing will be required to...

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