WELLINGTON (Reuters) -- New Zealand's central bank on Wednesday announced a halt to its pandemic-induced NZ$100 billion ($70 billion) bond purchase program, sending the Kiwi dollar soaring as markets took it as sign that a rate hike was not far away.
The Reserve Bank of New Zealand (RBNZ) kept its official cash rate at 0.25%, as widely expected, but local banks brought forward their calls for a rate rise to as early as August, which would put New Zealand at the forefront of countries to raise interest rates.
