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Business & Finance

Reuters ahead with news on New Zealand hints at end to pandemic era monetary policy

Reuters was ahead of the competition with news of the Reserve Bank of New Zealand projecting a full rate rise by the third quarter of next year and further increases after that – a hawkish surprise that sent the New Zealand dollar surging and bonds tumbling. The New Zealand dollar jumped more than half a cent versus the U.S. currency immediately after the release and pulled up the Aussie dollar in its wake, while New Zealand two-year yields rose nine basis points. The projection, while conditioned on economic developments, put New Zealand on the map as likely one of the first advanced economies to reverse the stimulus policies triggered by Covid’s economic disruptions.

Market Impact

The New Zealand dollar jumped more than half a cent versus the U.S. currency immediately after the release and pulled up the Aussie dollar in its wake, while New Zealand two-year yields rose nine basis points.



Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Economy & Policy
Regions: Europe
Countries: New Zealand
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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