NZ dollar, swaps fall as RBNZ opens door to lower rates, Fonterra cuts forecast

Wed, 27 Jan 2016

By Paul McBeth Jan. 28 (BusinessDesk) - The New Zealand dollar and swap rates fell after a one-two hit from Fonterra Cooperative Group lowering its forecast payout and the Reserve Bank opening the door to further interest rate cuts this year. The kiwi fell to 64.29 US cents from 64.71 cents immediately before the RBNZ's announcement, which came half an hour after Fonterra's downgrade. RBNZ governor Graeme Wheeler kept the official cash rate at 2.5 percent, while saying headline inflation will take longer to get back into the central...

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