(Bloomberg) -- New Zealand's dollar may extend its gains on speculation a government report today will show companies had to pay more to attract workers in the first quarter, adding to the case for another interest rate rise.
Ordinary time wages for non-government workers rose 0.8 percent in the first quarter for an annual increase of 3.3 percent, according to a Bloomberg survey of 11 economists. Statistics New Zealand publishes the figures at 10:45 a.m. in Wellington. Higher wages may fan inflation, necessitating the need for higher interest rates, which attract investors to the nation's assets.
Read more at Bloomberg Currencies News
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