NZ dollar falls to nine-day low after slower than expected inflation

Wed, 16 Apr 2014

By Paul McBeth April 16 (BusinessDesk) - The New Zealand dollar dropped to a nine-day low after slower than expected inflation raised questions over the track of rising local interest rates. The kiwi fell as low as 85.79 cents, trading at 85.86 cents at 5pm in Wellington from 86.39 cents at 8am and 86.50 cents yesterday. The trade-weighted index dropped to 79.75 from 80.27 yesterday. New Zealand’s consumers price index slowed to an annual increase of 1.5 percent in the three months ended March 31, from 1.6 percent in the December period,...

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