NZ dollar gains after Chinese central bank cuts rates to stimulate demand

Sun, 01 Mar 2015

By Tina Morrison March 2 (BusinessDesk) - The New Zealand dollar advanced on expectations a reduction in interest rates in China may stimulate demand for New Zealand commodities in the country's largest trading partner. The kiwi rose to 75.65 US cents 8am in Wellington, from 75.60 cents at the New York close and 75.48 cents at 5pm in Wellington on Friday. The trade-weighted index increased to 78.65 from 78.42 on Friday. China, Asia's largest economy, cut its key deposit and lending rates by 25 basis points to 2.5 percent and 5.35 perce...

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