UPDATE: RBNZ says next move is likely a rate cut, kiwi dollar falls

Wed, 27 Mar 2019

(Adds comment from economists, and market pricing for a cut beginning in paragraph four.) By Rebecca Howard March 27 (BusinessDesk) - The Reserve Bank of New Zealand kept the official cash rate on hold at 1.75 percent but changed its language to say it now expects to cut rates. The kiwi dollar tumbled more than 1 US cent. "Given the weaker global economic outlook and reduced momentum in domestic spending, the more likely direction of our next OCR move is down," said central bank governor Adrian Orr in the short statement accompanying...

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