NZ dollar falls to week-low after Wheeler imposes loan restrictions; RBA open to more rate cuts

Tue, 20 Aug 2013

By Paul McBeth Aug. 20 (BusinessDesk) - The New Zealand dollar fell to a week-low after Reserve Bank governor Graeme Wheeler imposed restrictions on home lending from October in an effort to cool a bubbling property market without hiking interest rates. The kiwi fell as low as 79.73 US cents and traded at 79.87 cents at 5pm in Wellington from 80.64 cents at 8am and 81.18 cents yesterday. The trade-weighted index dropped to 75.21 from 76.22 yesterday. Wheeler today announced restrictions on low-equity home loans in an effort to cool housin...

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