NZ dollar becalmed after RBNZ's shock stance change

Thu, 28 Mar 2019

By Jenny Ruth March 28 (BusinessDesk) - The New Zealand dollar is becalmed after yesterday's shock announcement from the Reserve Bank that the next move in its official cash rate is likely to be down. Previously, the central bank had said the OCR would remain on hold through to well into 2020 and that the next move could be either up or down. The kiwi was trading at 68.06 US cents at 5pm in Wellington from 68.04 at 8am after losing a cent yesterday. The trade-weighted index was at 73.85 points from 73.83. ANZ Bank’s foreign exchange...

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