NZ dollar heads for 0.9% weekly drop as inflation pushes out rate hike timeframe

Fri, 24 Oct 2014

By Paul McBeth Oct. 24 (BusinessDesk) - The New Zealand dollar is heading for a 0.9 percent weekly decline against the greenback after an extended period of low inflation pushed out expectations for the Reserve Bank to resume hiking interest rates. The kiwi fell to 78.37 US cents at 5pm in Wellington from 79.12 cents on Friday in New York last week. It was little changed from 78.18 cents at 8am today, and down from 78.52 cents yesterday. The trade-weighted index fell to 76.36 from 76.47 yesterday, and is heading for a 0.8 percent weekly d...

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