(Bloomberg) -- New Zealand's dollar is heading for
its fifth consecutive weekly gain amid expectations that central
bank Governor Alan Bollard will raise interest rates next week,
buoying demand for the currency.
Investors are attracted to the currency because they can
borrow at cheaper rates in economies such as Japan, where the
benchmark rate is 0.5 percent, and take advantage of New
Zealand's record-high yields. Eleven of 16 economists surveyed
by Bloomberg News expect Bollard will raise the official cash
rate to 8.25 percent on July 26.
Read more at Bloomberg Currencies News
its fifth consecutive weekly gain amid expectations that central
bank Governor Alan Bollard will raise interest rates next week,
buoying demand for the currency.
Investors are attracted to the currency because they can
borrow at cheaper rates in economies such as Japan, where the
benchmark rate is 0.5 percent, and take advantage of New
Zealand's record-high yields. Eleven of 16 economists surveyed
by Bloomberg News expect Bollard will raise the official cash
rate to 8.25 percent on July 26.
Read more at Bloomberg Currencies News
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