RBNZ's 'clear' message gets traction in pushing down kiwi

Wed, 20 Jul 2016

By Paul McBeth July 21 (BusinessDesk) - The Reserve Bank's "clear" message that interest rates are set to plumb a new record-low achieved got the desired effect in pushing the kiwi dollar to a month-low. The central bank today said "further easing was likely" with the strong currency 6 percent above the RBNZ's expectations on a trade-weighted basis and making it difficult to meet the mandated target of keeping inflation between 1 percent and 3 percent over the medium term. Consumer prices rose an annual 0.4 percent in the June quarter, i...

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