NZ dollar extends decline as investors see RBNZ dialing back rate hike outlook

Thu, 03 Aug 2017

By Rebecca Howard Aug. 3 (BusinessDesk) - The New Zealand dollar fell to a nine-day low on growing expectations that the central bank will shift to an even more neutral stance at next Thursday's policy review and signal interest rates will be on hold for longer. The kiwi traded at 73.99 at 5pm from 74.28 cents yesterday. The trade-weighted index was at 77.86 from 78.16 yesterday. In its forecasts, the central bank has signalled that it expects to begin lifting New Zealand's record-low interest rates in September 2019. However, given...

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