NZ dollar falls ahead of RBNZ governor’s speech on macro prudential policy

Mon, 19 Aug 2013

By Tina Morrison Aug. 20 (BusinessDesk) – The New Zealand dollar weakened in anticipation Reserve Bank governor Graeme Wheeler will detail imminent plans to limit low equity house lending, which may reduce the need for interest rate hikes. The kiwi fell to 80.64 US cents at 8am in Wellington from 81.18 cents at the 5pm market close yesterday. The trade-weighted index declined to 75.87 from 76.22 yesterday. New Zealand’s central bank, concerned about spiralling house prices causing financial instability, has consulted about the use of new to...

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