NZ dollar, interest rates falls after RBNZ details LVR restrictions

Tue, 20 Aug 2013

Aug. 20 (BusinessDesk) – The New Zealand dollar fell about half a US cent and interest rates dropped after Reserve Bank governor Graeme Wheeler detailed the bank’s plans to curb high loan-to-value home lending, which could potentially slow the pace of hikes to the official cash rate. The kiwi dollar fell as low as 79.76 US cents, and recently traded at 7992 cents, from 80.34 cents before the announcement. The trade-weighted index fell to 75.21 from 75.60. The two-year swap rate fell 5 basis points to 3.435. The central bank will limit the a...

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