New Zealand dollar drops on interest rate cut comments

The New Zealand dollar fell on speculation the central bank will cut interest rates to help the economy recover from a deadly earthquake. The Kiwi dollar fell 1% to NZ$0.73 against the US dollar.
Prime Minister John Key was quoted by the Bloomberg news agency as saying that he expects, and would welcome, an interest rate cut.
Estimates put the cost of rebuilding after the earthquake at close to NZ$20bn ($15bn; £9.3bn).
Sharp contrast The Reserve Bank of New Zealand has kept interest rates unchanged at 3% since July.
It next meets on 10 March to set rates.
"The market has priced in a... read more

 
2 March 2011 in Business, Views: 4
Source: BBC
Share:
 




News Widget for Webmasters


Realtime News

 

«
»
Mo Tu We Th Fr Sa Su
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31