NZ dollar slips vs. Australian dollar after RBA keeps rates on hold, clams up on outlook

Tue, 03 Sep 2013

By Paul McBeth Sept. 3 (BusinessDesk) - The New Zealand dollar slipped against its trans-Tasman counterpart after the Reserve Bank of Australia kept its key interest rate on hold, while making no reference to having room to cut rates. The kiwi fell to 86.62 Australian cents at 5pm in Wellington from 86.87 cents immediately before the release and 86.80 cents yesterday. The kiwi increased to 78.25 US cents at 5pm from 78.11 cents at 8am and 77.87 cents yesterday. The RBA kept the target cash rate at 2.5 percent, with governor Glenn Stevens sa...

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