![Fed rate hike confirmed - up 0.25pc](/pf/resources/images/placeholders/placeholder_l.png?d=793)
Fed rate hike confirmed - up 0.25pc
Fed ends the "zero-rate era" - signals 4 quarter-point increases for next year.
Fed ends the "zero-rate era" - signals 4 quarter-point increases for next year.
What's in store for 2016? We'll probably see the first bitcoin company valued at more than $1 billion.
The Fed is expected to raise its benchmark interest rate this week for the first time in nearly a decade.
LIAM DANN: Number One - the Reserve Bank is still more worried about the housing bubble than deflation.
ANZ, Westpac, Kiwibank and BNZ have now cut mortgage rates after the Reserve Bank reduced the OCR to a record low of 2.5 per cent.
NZ Dollar jumped over half a US cent to US67.30 after OCR cut to 2.50 per cent.
The first United States interest rates rise since 2006 is looking increasingly likely.
The International Monetary Fund will add the yuan to its basket of currencies, an international stamp of approval of the strides China has made.
Investors are favouring currencies with higher interest rates.
The New Zealand dollar was largely unchanged heading into the week's close as the Thanksgiving holiday in the US sapped trading activity.
Economists at Westpac and ASB forecast a drop in the OCR to 2 per cent next year.
The New Zealand dollar is heading for a 0.6 per cent gain this week as the prospect of US interest rates grind higher at a slower pace than expected.
The New Zealand dollar was little changed against the greenback this afternoon as investors continue to weigh up whether the Federal Reserve will hike interest rates next month.