Christchurch Aftershocks May Prolong Record-Low N.Z. Rates
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Earthquakes that struck Christchurch yesterday may add to the case for New Zealand’s central bank Governor Alan Bollard to delay interest-rate increases until next year.
The magnitude 5.2 and magnitude 6 tremors in New Zealand’s second-biggest city were the worst since a February temblor that killed more than 180 people and closed the central business district. New Zealand’s currency fell and traders reduced bets on the cash rate rising from a record-low 2.5 percent this year, according to swaps trading.