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New Zealand dollar nosedives after RBNZ stuns market
SYDNEY: The New Zealand dollar tumbled and bonds surged on Wednesday after the country’s central bank stunned markets by skipping a chance to raise interest rates, though it signalled further tightening would come at some point. The dovish outcome contrasted with comments from the Reserve Bank of Australia that underlined the risks of hot inflation data, which led investors to sharply narrow the odds on a hike at its board meeting next week. As a result, the Aussie dollar jumped 2% against the kiwi at one stage to hit the highest point since early 2013 at NZ$1.2602, while the kiwi dove 1.2% ve...
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