New Zealand dollar falls sharply after RBNZ dampens rate hike expectations

Thu, 09 Feb 2017

By Rebecca Howard Feb. 9 (BusinessDesk) - The New Zealand dollar fell after the central bank dampened rate hike expectations and moved to jawbone the currency lower. The New Zealand dollar was trading at a three week-low of 71.96 US cents as at 5pm from 73.05 cents as at 8am in Wellington and 73.04 cents late yesterday. The trade-weighted index dropped to 78.32 from 79.52 yesterday. The central bank kept rates on hold at 1.75 percent and while it pointed to higher interest rates down the track it's not planning to move any time soon, s...

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