NZ dollar stalls after Bascand's rate cut comments

NZ dollar stalls after Bascand's rate cut comments
Jenny Ruth
The New Zealand dollar was little changed after Reserve Bank deputy governor Geoff Bascand told a Sydney conference the central bank may have to cut rates further, halting a rally sparked by higher-than-expected inflation figures. The kiwi was trading at 62.70 US cents at 5pm in Wellington from 62.80 cents at 7:55am. The trade-weighted index was at 69.81 points from 69.84. Data today showed consumer prices rose 0.7 percent in the September quarter, taking headline inflation to 1.5 percent, above the 0.6 percent quarterly increase economis...

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