2014.12.0204:31:06UTC+00New Zealand dollar slightly changed against Australian dollar

The New Zealand dollar was slightly changed against its counterparts following the Reserve Bank of Australia retained its key rate at a record low and said a weaker currency was desirable to promote balanced economic growth.

The RBA kept the target cash rate at 2.5%, saying monetary policy was appropriately configured to cultivate sustainable growth in demand and inflation outcomes consistent with the target.

Kiwi traded at 92.53 Australian cents from yesterday’s 92.45 cents yesterday. It was little changed at 78.77 US cents from 78.09 US cents, and 50.06 British pence from 50.02 British pence.

The currency climbed to ¥93.27 from yesterday’s ¥92.87, and 63.19 euro cents from 62.71 euro cents

"The song-sheet's relatively unchanged from the RBA, they're basically on the fence. "Kiwi strength against the Aussie is still prevailing," said Stuart Ive, Senior Dealer Foreign Exchange at OMF in Wellington.