NZ dollar tumbles as tepid inflation dashes chance of rate hike

Wed, 24 Jan 2018

By Rebecca Howard Jan. 25 (BusinessDesk) - The New Zealand dollar fell 1 US cent as surprisingly weak fourth-quarter consumer price inflation data dashed expectations the Reserve Bank might lift rates this year rather next. The kiwi dropped to 73.29 US cents as at 12.05pm from 74.30 cents immediately before government data showed the consumers price index rose at an annual pace of 1.6 percent in the December quarter, below the 1.9 percent pace predicted in a poll of 13 economists surveyed by Bloomberg and the Reserve Bank's projection f...

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