NZ dollar falls as RBNZ lays groundwork for November rate cut

Thu, 22 Sep 2016

By Paul McBeth Sept. 23 (BusinessDesk) - The New Zealand dollar fell as the Reserve Bank lay the groundwork for lower interest rates later this year as inflation continues to be restrained by the strength of the currency. The kiwi slipped to 73.03 US cents at 8am in Wellington from 73.29 cents yesterday. The trade-weighted index declined to 77.50 from 77.78. RBNZ governor Graeme Wheeler kept the official cash rate at 2 percent yesterday, saying more easing was on the cards to get inflation back within the target band of 1-to-3 percen...

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