Excerpt from:  GFT Analysts in the News
.
January 29, 2009

Reserve Bank of New Zealand Cuts Rates

New Zealand dollar continues to struggle in currency trading

The New Zealand dollar continues to struggle in currency trading on the FX market after today's rate cut. The Reserve Bank of New Zealand cut rates by 1.5%, sending the rate to 3.5%. This was unexpected, as the RBNZ was expected to cut rates to 4%. The 3.5% is a record low rate.

The kiwi is falling in forex trading as commodity currencies are hard-hit by the global recession. The hope is that the lower rate will sitmulate economic growth, ultimately helping the New Zealand dollar in currency trading.


Bookmark and Share
Topic Tags:  commodity currencies, currency trading, currency trading FX market, dollar currency trading, forex trading, FX market, global recession, New Zealand dollar

Syndication OptionsRSS (Rich Site Summary) Feed Atom Feed OPML (Outline Processor Language) Feed MYST-ML (MyST Markup Language) Content Feed MS-Office Smart Tag Subscription