NZ dollar falls as benign inflation, RBA outlook pushes rates lower, diminishes appeal

Tue, 16 Oct 2012

By Paul McBeth Oct. 16 (BusinessDesk) - The New Zealand dollar fell in local trading as a more benign than expected inflation report and a weaker Australian economic outlook trimmed the appeal of the currency. The kiwi fell as low as 81.40 US cents and traded at 81.57 cents at 5pm in Wellington, down from 81.82 cents at 8am and up from 81.43 cents yesterday. The trade-weighted index was unchanged at 72.80. New Zealand's 90-day bank bill rate fell 5 basis points to 2.65 percent and the two-year swap rate declined 7 basis points to 2.47 perce...

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