NZ dollar falls on deflation, fading case for rate hikes

Wed, 21 Jan 2015

By Paul McBeth Jan. 21 (BusinessDesk) - The New Zealand dollar fell after a slower-than-expected pace of annual inflation stoked speculation the country's Reserve Bank will refrain from raising interest rates as quickly as it had previously indicated, with some economic commentary suggesting a bias towards a rate cut could yet emerge. The kiwi declined to 76.59 US cents at 5pm in Wellington from 76.74 cents at 8am and 77.17 cents yesterday. The trade-weighted index dropped to 78.15 from 78.85 yesterday. Government figures showed the co...

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