NZ dollar drops after RBNZ looks at new home loan restrictions

Thu, 05 Mar 2015

By Paul McBeth March 5 (BusinessDesk) - The New Zealand dollar dropped after the Reserve Bank said it's looking at ways to restrict lending on residential property investments, stoking speculation it would then have more room to cut interest rates. The kiwi fell to 75.52 US cents at 5pm in Wellington from 75.88 cents immediately before the release, to be little changed from 75.55 cents yesterday. The trade-weighted index was at 78.67 from 78.56. The Reserve Bank is seeking feedback on a proposal to lift banks' capital requirements for...

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