NZ dollar gains as rising consumer prices deflate chance of rate cut

Tue, 16 Oct 2018

By Paul McBeth Oct. 16 (BusinessDesk) - The New Zealand dollar gained as traders dial back their expectations for a rate cut after inflation was higher than forecast. The kiwi rose to 69.68 US cents as at 5pm in Wellington from 65.45 cents immediately before the inflation data was released and 65.01 cents yesterday. The trade-weighted index increased to 71.75 from 71.12 yesterday. Annual inflation was 1.9 percent in the September quarter, beating economists expectations and ahead of the Reserve Bank's 1.4 percent forecast. Governor A...

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