New Zealand dollar outlook grim

The kiwi may get some reprieve when the Fed starts cutting. (Image: Getty)

Fri, 16 Aug 2024

The New Zealand dollar has no immediate reprieve in sight, as data on Thursday added to the view that the Reserve Bank of NZ will indeed keep cutting. The kiwi was trading at 60.04 US cents at 5.30pm on Thursday, paring back some of the 1% it lost when the Reserve Bank of NZ (RBNZ) cut the rate by 25 basis points to 5.25% on Wednesday. The rate cut came one year earlier than the bank had anticipated in May. The RBNZ’s forecasts now have the official cash rate (OCR) at 4.92% in the December quarter, implying two more 25-basi...

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