Kiwi dollar up as RBNZ advances rate-hike forecast

Wellington

NEW Zealand's central bank signalled that interest rates may need to rise slightly earlier than previously expected as it revised up inflation forecasts. The local dollar rose.

"Monetary policy will remain accommodative for a considerable period," Reserve Bank Acting Governor Grant Spencer said on Thursday after keeping the official cash rate at 1.75 per cent, a record low.

Still, "the exchange rate has eased since th…