The New Zealand dollar fell to $0.6041 against the US dollar on Wednesday 16 December, its lowest point since 19 August. 

Earlier in the day, it was slightly weaker, trading at $0.6064. The decline was attributed to a stronger US dollar, driven by the expectation of aggressive interest rate cuts in the United States.

Domestically, New Zealand’s annual inflation rose by 2.2% in the third quarter, down from a 3.3% annual increase in the second quarter, marking the lowest inflation rate since March 2021, according to new government data. 

On 9 October, New Zealand’s central bank eased monetary policy by reducing its Official Cash Rate by 50 basis points to 4.75%, the lowest level in 18 months.

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