NZ dollar falls after RBNZ clears path for lower rates with new lending limits

Mon, 18 Jul 2016

By Paul McBeth July 19 (BusinessDesk) - The New Zealand dollar dropped after the Reserve Bank opened the door for interest rate cuts as soon as next month with the extension of mortgage loan restrictions set for September. The kiwi fell to 70.56 US cents from 71.14 cents immediately before the RBNZ release and the trade-weighted index sank to 75.37 from 76.03, still well above the 71.6 quarterly average projected in the June monetary policy statement. The RBNZ today said it plans to extend mortgage lending restrictions on Auckland pr...

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