NZ dollar little changed, may rise on signs economy strong fast enough to rule out rate cuts

Thu, 15 Sep 2016

By Jonathan Underhill Sept. 15 (BusinessDesk) - The New Zealand dollar was little changed and may rise on signs the economy is growing at a fast enough clip to rule out any further cut to interest rates in the near term The kiwi traded at 72.66 US cents as at 5pm in Wellington from 72.60 cents late yesterday. The trade-weighted index edged up to 77.63 from 77.59. Government figures showed the economy grew 0.9 percent in the second quarter, slower than the market's expectation of 1.1 percent growth but faster than the central bank's 0.8...

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