NZ dollar falls after RBNZ adopts easing bias, Fonterra cuts forecast payout

Thu, 30 Apr 2015

By Paul McBeth April 30 (BusinessDesk) - The New Zealand dollar fell after the Reserve Bank adopted a bias towards lower interest rates, saying it would cut rates if inflationary pressures come in below expectations, and after Fonterra Cooperative Group cut its forecast payout to its farmer shareholders. The kiwi dropped to 76.15 US cents at 5pm in Wellington from 76.91 cents at 8am and 76.90 cents yesterday. The trade-weighted index declined to 78.40 from 79.30 yesterday. Reserve Bank governor Graeme Wheeler kept the official cash rat...

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