NZ dollar weakens ahead of 3Q inflation on speculation interest rates to stay on hold

Wed, 22 Oct 2014

By Tina Morrison Oct. 23 (BusinessDesk) - The New Zealand dollar slipped ahead of a report on third quarter inflation which is expected to show prices rose at a slower pace than the Reserve Bank predicted, signalling interest rates are likely to remain at current levels for longer. The kiwi fell to 79.38 US cents at 8am in Wellington, from 79.76 cents at 5pm yesterday. The trade-weighted index declined to 77.20 from 77.42 yesterday. New Zealand consumer prices probably rose 0.5 percent in the three months through September, lagging the...

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