NZ dollar gains after Westpac nixes Nov rate cut call

Thu, 31 Oct 2019

The New Zealand dollar got a solid lift when Westpac Bank pared back its rate cut expectations, at least in the short term. The kiwi dollar was trading at 64.27 US cents at 5pm in Wellington from 63.70 cents at 8:10 am. The trade-weighted index was at 70.74 versus 70.27. Market pricing for a rate cut in November fell sharply when Westpac Bank Bank’s chief economist Dominick Stephens said it was no longer expecting a cut. “The balance of recent domestic data does not justify a cut, global sentiment has improved and overseas central ban...

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