NZ dollar falls as weak inflation data adds to case for rate cut in August

Mon, 18 Jul 2016

By Jonathan Underhill July 18 (BusinessDesk) - The New Zealand dollar fell after figures showed inflation was weaker than expected in the second quarter adding to the case for a central bank rate cut at its Aug. 11 monetary policy review. The kiwi traded at 70.93 US cents as at 5pm in Wellington, from 71.48 cents immediately before the inflation data was released and from 71.09 cents at the New York close on Friday. The trade-weighted index fell to 75.74 from 76.13. Both quarterly and annual inflation were 0.4 percent, lagging behind...

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