(Bloomberg) -- The New Zealand dollar rose
above 80 U.S. cents to a 22-year high as the prospect of another
increase in interest rates this week lures investors to the
nation's higher-yielding assets.
The currency has gained 14 percent this year as the central
bank raised the benchmark rate three times in a bid to subdue
consumer demand, which it says is boosting inflation. There is a
67 percent chance bank Governor Alan Bollard will raise the
official cash rate by a quarter-percentage point for a fourth
time at his monetary policy review on July 26, according to a
Credit Suisse Group index based on interest-rate swaps trading.
Read more at Bloomberg Currencies News
above 80 U.S. cents to a 22-year high as the prospect of another
increase in interest rates this week lures investors to the
nation's higher-yielding assets.
The currency has gained 14 percent this year as the central
bank raised the benchmark rate three times in a bid to subdue
consumer demand, which it says is boosting inflation. There is a
67 percent chance bank Governor Alan Bollard will raise the
official cash rate by a quarter-percentage point for a fourth
time at his monetary policy review on July 26, according to a
Credit Suisse Group index based on interest-rate swaps trading.
Read more at Bloomberg Currencies News
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