NZ dollar weaker after earthquake but no sign of repeat of 2011 emergency rate cut

Mon, 14 Nov 2016

By Jonathan Underhill Nov. 14 (BusinessDesk) - The New Zealand dollar fell after the magnitude 7.5 earthquake in the upper South Island although the interest rate market showed no concerns that the Reserve Bank would cut interest rates as it did after the 2011 quake in Canterbury. The kiwi fell to 70.98 US cents as at 5pm in Wellington from 71.26 cents in late New York trading on Friday. The trade-weighted index slipped to 77.18 from 77.21. The quake at just after midnight blocked highways, cut power, water and phone lines to some smal...

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