Dollar, sterling underpinned by upbeat PMI surveys; kiwi jumps
SINGAPORE: The dollar and sterling were buoyant on Wednesday, after a surprise rebound in business activity in the United States and the UK raised the likelihood that their respective central banks would have further to go in raising interest rates. Elsewhere, the kiwi surged after the Reserve Bank of New Zealand (RBNZ) on Wednesday raised […]
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 […]