(Bloomberg) -- The New Zealand dollar rose to a 22-
year high on speculation the central bank may raise interest
rates further to curb economic growth and inflation.
The central bank has boosted the official cash rate three
times this year in a bid to subdue consumer spending, which it
says is spurring inflation and unsustainable growth. The record 8
percent rate has helped the New Zealand dollar, known as the
kiwi, gain 29 percent in the past 12 months. The government
statistician said today the economy expanded 1 percent in the
first quarter, matching economists' expectations.
Read more at Bloomberg Currencies News
year high on speculation the central bank may raise interest
rates further to curb economic growth and inflation.
The central bank has boosted the official cash rate three
times this year in a bid to subdue consumer spending, which it
says is spurring inflation and unsustainable growth. The record 8
percent rate has helped the New Zealand dollar, known as the
kiwi, gain 29 percent in the past 12 months. The government
statistician said today the economy expanded 1 percent in the
first quarter, matching economists' expectations.
Read more at Bloomberg Currencies News
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