NZ dollar falls before OCR review; Greek election looms

Wed, 13 Jun 2012

By Hannah Lynch June 14 (BusinessDesk) - The New Zealand fell before the Reserve Bank's monetary policy review this morning, likely to keep interest rates on hold at a record low, and on speculation Greece will water down its austerity measures after this weekend's elections. The New Zealand dollar fell to 77.37 US cents just before 8am from 77.64 cents from 5pm yesterday. The trade weighted index decreased to 70.37 from 70.71. Governor Alan Bollard will keep the official cash rate on hold at a record-low 2.5 percent, according to a Reuter...

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