NZ dollar largely unchanged as RBA cuts cash rate as expected

Tue, 01 Oct 2019

By Paul McBeth Oct. 1 (BusinessDesk) - The New Zealand dollar was largely unchanged after the Reserve Bank of Australia cut the target cash rate a quarter-point to 0.75 percent as expected. The kiwi traded at 92.78 Australian cents at 5.50pm from 92.75 cents at 8am and 92.71 cents yesterday. It fell to 62.43 US cents from 62.62 cents at 8am. Globally low interest rates have added pressure on New Zealand's central bank to follow suit, and the RBA's decision to cut the cash rate, while expected, will make it more difficult for the RBNZ...

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