NZ dollar slumps against euro after ECB stimulus misses expectations

Thu, 03 Dec 2015

By Tina Morrison Dec. 4 (BusinessDesk) - The New Zealand dollar slumped against the euro after the European Central Bank failed to ease monetary policy as much as expected following its meeting yesterday. The kiwi dropped to 60.87 euro cents at 8am in Wellington, from 62.72 cents at 5pm yesterday. The local currency advanced to 66.55 US cents from 66.46 cents yesterday. The ECB cut its interest rate on deposits by 10 basis points to -0.3 percent, broadened the range of assets accepted in its asset purchase programme and committed to ro...

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