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Sam Leong Huat liao! New Zealand Dollar Soars on First Rate Hike in 3 Years

Thread starter zeroo
Start date Mar 13, 2014

zeroo

Alfrescian

Loyal

Mar 13, 2014

For the first time in 3 years, the Reserve Bank of New Zealand raised interest rates by 25bp to 2.75%. While the decision was widely expected, the New Zealand dollar still traded sharply higher because the central bank raised its inflation and growth forecasts and said rates will rise by 2% over the next 2 years. According to Governor Wheeler, today's rate increase was needed to keep a lid on inflation, which is becoming a bigger problem with inflationary pressures on the rise.

http://www.fxstreet.com/analysis/daily-fx-market-roundup/2014/03/12/

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