NZ 1st-qtr inflation comes in below expectations; dollar falls

Tue, 16 Apr 2019

By Rebecca Howard April 17 (BusinessDesk) - The consumers price index eked out a smaller gain than expected in the March quarter and may up the ante for an interest rate cut next month. The CPI rose 0.1 percent in the March quarter bringing the annual rate of inflation to 1.5 percent, down from a 1.9 percent pace in December, Stats NZ said. The New Zealand dollar dropped as low as 66.72 US cents from 67.77 cents immediately before the release. It was recently at 66.95 cents. Economists had predicted the CPI rose 0.3 percent in the...

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