Weaker kiwi probably not a game changer for RBNZ yet

Sun, 21 Jul 2013

July 21 (BusinessDesk) – The kiwi dollar is holding below levels the Reserve Bank is forecasting for the third quarter though that’s unlikely to be enough to change its view of the interest rate outlook this week. The central bank will keep the official cash rate at 2.5 percent on Thursday, according to a Reuters survey of 16 economists. The bank will hike the OCR by 25 basis points to 2.75 percent in the first quarter of 2014, and make further quarter-point increases in the following two quarters, the survey says. Since the Reserve Bank’s J...

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