NZ dollar gains ahead of inflation data seen keeping RBNZ on track for November rate cut

Sun, 16 Oct 2016

By Jonathan Underhill Oct. 17 (BusinessDesk) - The New Zealand dollar rose ahead of third-quarter inflation data tomorrow which is expected to be weak enough to keep the Reserve Bank on track to cut interest rates next month. The kiwi rose to 71.09 US cents as at 8am in Wellington from 70.84 cents in late New York trading on Friday. The trade-weighted index rose to 76.48 from 76.18. The consumers price index didn't budge in the third quarter and rose just 0.1 percent year-on-year, according to economists at Bank of New Zealand. That's...

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