(Bloomberg) -- The New Zealand dollar fell from the
eighth 22-year high this month on concern economic growth isn't
fast enough to trigger an interest-rate increase next month.
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
eighth 22-year high this month on concern economic growth isn't
fast enough to trigger an interest-rate increase next month.
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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