The New Zealand dollar dropped by about 1 US cent and swap rates fell after the Reserve Bank warned a surging kiwi for no good reason may force a rate cut, and said it doesn’t plan to budge on the official cash rate this year. The kiwi dollar sank as low as 81.63 US cents from 82.60 cents immediately before …

The New Zealand dollar tumbled almost 1 US cents after the Reserve Bank said interest rates will remain at a record low through this year and hinted at a cut to the official cash rate if the currency was higher than justified by economic fundamentals. The kiwi fell to 81.66 US cents from 82.60 cents immediately before the statement. The …

A sharp drop in an over-valued New Zealand dollar that created inflationary pressure would need a monetary policy response, according to the Reserve Bank. The Reserve Bank has revised up its projections for the local currency on a trade-weighted basis as the kiwi remains in favour against the backdrop of increasingly upbeat global financial markets and a flood of money …