NZ dollar tumbles on surprise RBNZ mood change

Wed, 27 Mar 2019

By Rebecca Howard March 27 (BusinessDesk) - The New Zealand dollar took a nosedive when the central bank said it is now more likely to cut rates as both the global and domestic economic outlook weaken. The kiwi was trading at 68.01 US cents at 5pm in Wellington versus 69.11 at 8am. The trade-weighted index was at 73.72 from 74.80. The central bank today kept the official cash rate on hold as expected at 1.75 percent, but surprised investors with the change of mood. "Given the weaker global economic outlook and reduced momentum in...

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