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NEW ZEALAND HIKES KEY INTEREST RATE

Rob WileJun 12, 2014, 02:33 IST

TripAdvisor

New Zealand has increased its key interest rate to 3.25% from 3%.

The Reserve Bank of New Zealand said it expects the Kiwi dollar to decline with commodity prices. The country is a major agricultural exporter.

The Kiwi currency was slightly higher Wednesday.