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.

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