NZ dollar slips after tepid 1Q inflation meets expectations

Wed, 17 Apr 2013

By Paul McBeth April 17 (BusinessDesk) - The New Zealand dollar fell in local trading after tepid first-quarter inflation meet market expectations, and reaffirmed the prospects low interest rates will stay in place. The kiwi fell to 84.62 US cents at 5pm in Wellington from 85.02 cents at 8am and 84.79 cents yesterday. The trade-weighted index dropped to 77.80 at 5pm from 78.05 yesterday. Government figures showed the consumers price index rose 0.4 percent in the three months ended March 31, matching expectations, for an annual pace of 0.9...

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