NZ dollar slides as Fed bolsters bets on December hike

Thu, 08 Nov 2018

By Margreet Dietz Nov. 9 (BusinessDesk) - The kiwi declined as the US Federal Reserve underpinned bets it will raise interest rates next month at a time when the Reserve Bank flagged New Zealand rates are likely to remain steady. After a two-day meeting in Washington, the US Federal Open Market Committee held its target range for the federal funds rate steady at 2 to 2-1/4 percent. "The labour market has continued to strengthen and ... economic activity has been rising at a strong rate" since the FOMC’s last meeting in September, it s...

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