NZ dollar tumbles vs Aussie after RBA minutes, extends slide on inflation outlook

Tue, 17 May 2016

By Jonathan Underhill May 17 (BusinessDesk) - The New Zealand dollar declined against its Australian counterpart after minutes of the last Reserve Bank of Australia meeting showed some reluctance to cut rates at the May 4 meeting and extended its decline after a survey showed inflation expectations remain weak. The kiwi fell to 92.50 Australian cents as at 5pm in Wellington, from 92.96 cents late yesterday. It rose to 68.05 US cents, having lifted with the Australian after the RBA minutes, before retreating after the Reserve Bank's quarte...

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