Kiwi Sinks as N.Z. Growth Slowdown Backs Case for More Rate Cuts

New Zealand’s dollar slumped to a five-year low after slowing economic growth backed the case for additional interest-rate cuts.

The kiwi headed for a record ninth week of declines versus the greenback as the pace of expansion in gross domestic product unexpectedly slowed to the weakest in two years. Swaps markets are pricing an 85 percent chance the Reserve Bank will cut its 3.25 percent benchmark interest rate next month, data compiled by Bloomberg show.