NZ dollar drops after tepid inflation opens path lower

Wed, 22 Oct 2014

By Paul McBeth Oct. 23 (BusinessDesk) - The New Zealand dollar fell about half a US cent after tepid local inflation pushed out the likely timeline for future interest rate hikes and cleared the way for a lower currency. The kiwi fell as low as 78.63 US cents from 79.09 cents immediately before the inflation data was released, and was recently trading at 78.71 cents. Statistics New Zealand figures showed inflation was unchanged at 0.3 percent in the three months ended Sept. 30, slowing the annual pace to 1 percent, just within the Rese...

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