Spectre of negative rates takes shine off kiwi dollar

Tue, 18 Aug 2020

Some of the shine is coming off the kiwi dollar as negative interest rates look increasingly plausible as the country grapples with another outbreak of covid-19. The kiwi fell to 65.37 US cents at 3:20pm from 65.73 at 8am, and was down at 90.63 Australian cents from 90.87 after another bank economics team predicted the Reserve Bank will adopt a negative rates policy early next year. The two-year swap rate hit a record low, falling 6.75 basis points to 0.045 percent. The move came after ANZ Bank NZ said it expects the central bank to cut t...

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