Kiwi Markets Stunned by Rate Cut Almost No One Saw Coming: Chart

New Zealand’s dollar tumbled more than 2 percent against the greenback and two-year yields plunged the most since August 2011 after Reserve Bank Governor Graeme Wheeler lowered the official cash rate by a quarter point to 2.25 percent, a move predicted by just two of 17 economists surveyed by Bloomberg. The kiwi has fallen 1.4 percent over the past week, the biggest slump among 31 major currencies.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE