NZ dollar drops below 73 US cts ahead of RBNZ as global volatility subsides

Wed, 07 Feb 2018

By Paul McBeth Feb. 8 (BusinessDesk) - The New Zealand dollar dropped below 73 US cents ahead of the Reserve Bank's policy review which will likely keep interest rates on hold as other central banks are poised to start hiking. The kiwi fell to 72.52 US cents as at 8am in Wellington from 73.07 cents late yesterday. The trade-weighted index declined to 74.53 from 74.79 yesterday. RBNZ acting governor Grant Spencer is expected to keep the official cash rate at a record low 1.75 percent and affirm projections for the benchmark rate to st...

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