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

Business & Finance

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

Reuters

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