June 9 (Bloomberg) -- The New Zealand dollar climbed toward a record after the central bank said commodity prices remain "very strong" and interest rates will rise within two years. The so-called kiwi gained against all 16 of its most-traded counterparts after the Reserve Bank of New Zealand left its benchmark interest rate unchanged at a record-low 2.5 percent. Australia's currency advanced before data today forecast to show the nation added jobs in May. "The central bank's statement was hawkish and effectively allows for a December hike," said Imre Speizer, a market strategist in Auckland at Westpac Banking Corp., Australia's second-biggest lender. "It's bullish for the kiwi dollar." New Zealand's dollar rose to 82.39 U.S. cents as of 10:17 a.m. in Sydney from 81.50 cents in New York yesterday. The currency reached a record 82.64 U.S. cents on May 31. It advanced 1.1 percent to 65.81 yen. The kiwi climbed for a third day to NZ$1.2941 per Australian dollar and touched NZ$1.2917, the most since Feb. 2. Australia's dollar gained to $1.0654 from $1.0623 yesterday, when it touched $1.0589, the lowest since June 2. The currency fetched 85.10 yen from 84.88 yen. Today's decision by the RBNZ was predicted by all 15 economists surveyed by Bloomberg News. Swaps traders are betting the central bank will increase the key rate by 65 basis points over 12 months, up from 56 basis points yesterday, a Credit Suisse Group AG index showed today. 'Gradual Increase' "A gradual increase in the official cash rate over the next two years will be required," Governor Alan Bollard said in a statement accompanying the decision. "The pace and timing of increases will be guided by the speed of recovery." Australia's employers added 25,000 jobs in May after cutting 22,100 in April, while the jobless rate was unchanged at 4.9 percent, according to the median estimate of economists in a Bloomberg News survey before today's data. Australian bond futures rose for the first time in three days. Ten-year contracts for June delivery gained to 94.760 on the Sydney Futures Exchange from 94.750. The implied yield fell one basis point to 5.24 percent. A basis point is 0.01 percentage point. The yield on Australia's 10-year note dropped 1.5 basis points to 5.242 percent, according to data compiled by Bloomberg. New Zealand's two-year swap rate, a fixed payment made to receive floating rates, rose nine basis points to 3.45 percent.

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