NZ dollar falls to 7-1/2 month low after RBNZ reins in rate hike track

Thu, 11 Sep 2014

By Paul McBeth Sept. 11 (BusinessDesk) - The New Zealand dollar fell to its lowest in seven-and-a-half months after the Reserve Bank cut half a percentage point from its projected track for future rate hikes as tame inflation dulls the need for more aggressive policy. The kiwi fell as low as 81.78 US cents, the lowest since Jan. 29, trading at 81.86 cents at 5pm in Wellington from 82.36 cents at 8am, unchanged from yesterday. The trade-weighted index dropped to 78.36 from 78.84 yesterday. Reserve Bank governor Graeme Wheeler kept the k...

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