NZ dollar falls after RBNZ cuts the OCR

Wed, 08 May 2019

By Jenny Ruth May 8 (BusinessDesk) - The New Zealand dollar fell after the Reserve Bank’s decision to cut its official cash rate to a record low after other central banks, notably the Federal Reserve and the Reserve Bank of Australia, decided to hold their key interest rates steady. The kiwi was trading at 65.89 US cents at 5pm in Wellington, off the day’s low at 65.25 in the seconds after the 2pm announcement of the rate cut, and from 66.01 cents at 8am. The trade-weighted index dropped to 71.90 points from 72.14. The Reserve Bank’s n...

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