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Australian dollar falls to 10-year low

The Australian dollar has fallen to a 10 year low after the Reserve Bank of New Zealand surprised economists by cutting interest rates by half a per cent. 

The Reserve Bank of New Zealand cut interest rates while the Reserve Bank of Australia left the official cash rate on hold.

The cut surprised markets and impacted the Australian dollar which fell to 66.77 US cents.

ANZ Chief Economist Richard Yetsenga tells Ross Greenwood Australia could withstand some of the impacts from a US-China trade war which has been causing instability in the markets.

“The good thing is… the Australian dollar is flexible, it’s doing what it’s meant to do.

“It’s giving Australia some insulation.”

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