Copper retreats on concern over rate hikes, China demand
[ LONDON: Copper prices slumped on Wednesday on worries of more central bank rate hikes that could curb economic activity and sluggish demand in top metals consumer China. Three-month copper on the London Metal Exchange was down 1.1% to $9,097 a tonne at 1030 GMT after rising on Tuesday to its highest since Feb. 2. […]
NZ central bank hikes by 50bps, flags more to come as inflation ‘too high’; kiwi jumps
WELLINGTON: New Zealand’s central bank raised interest rates by 50 basis points to a more than 14-year high of 4.75% on Wednesday, and said it expects to keep tightening further as inflation remains too high, a hawkish signal that sent the local dollar surging. The Reserve Bank of New Zealand (RBNZ) said it was too […]