NZ dollar tumbles as RBNZ delivers rate cut, promises more

Thu, 10 Sep 2015

By Jonathan Underhill Sept. 10 (BusinessDesk) - The New Zealand dollar tumbled more than 1 US cent and fell on a trade-weighted basis after the Reserve Bank cut interest rates and flagged a further decline, while signalling risks to the economy including the El Nino weather pattern and a potential marked slowdown in China. The kiwi dollar fell to 62.62 US cents as at 5pm in Wellington, from 63.85 cents immediately before the Reserve Bank's monetary policy statement and down from 63.72 cents late yesterday. the trade-weighted index fell t...

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