Forex

New Zealand dollar continues to fall as interest rate decision still weighs

2019-08-12 18:41:09 GMT (Economies.com)

New Zealand dollar fell today as the RBNZ interest rate decision still weighs, which has cut rates lower than expected in the market.

 

The Reserve Bank of New Zealand cut interest rates by 50-bp to 1% from 1.5%, lower than forecasts of 25-bp cut.

 

Several central banks are heading for a similar cut to face a slowing economic growth signs and the impact of US-China trade war.

 

The US Fed is also moving to further rate cuts following a similar decision in July for the first time in more than a decade.

 

The trade war pushed global markets, causing volatility and sharp losses amid Trump's tariffs threats.  

 

As of 16:19 GMT, NZD/USD fell by 0.3% to $0.6448, with a high of $0.6475 and a low of $0.6443.

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