INVESTING UPDATE 24

KEY POINTS The New Zealand dollar jumped 1% to nearly 0.62 against the U.S. dollar, hitting a near four-month high. The Reserve Bank of New Zealand holds official cash rate at 5.5%, warned rates could go higher to tackle inflation.   The  New Zealand dollar  jumped 1% to nearly 0.62 against the  U.S. dollar  after the Reserve Bank of New Zealand held its official cash rate at 5.5% and warned that rates could go higher to tackle inflation. The kiwi dollar jumped to its highest level in nearly four months after the decision. The currency is down 2.5% so far this year, and is headed for its third straight yearly decline. The central bank noted  that inflation remained too high  and said monetary policy will need to remain restrictive in order to control it. “The official cash rate   will need to stay restrictive, so demand growth remains subdued, and inflation returns to the 1 to 3 percent target range,” the RBNZ said in its monetary policy statement...