NZ dollar falls after US Federal Reserve cuts rates

NZ dollar falls after US Federal Reserve cuts rates
Rebecca Howard
By Rebecca Howard Aug. 1 (BusinessDesk) - The New Zealand dollar fell after the US Federal Reserve cut rates by 25 basis points, as expected, for the first time in a decade, upping the ante on the Reserve Bank to cut rates next week.  The Kiwi was trading at 65.62 US cents at 7:45 versus  65.97 US cents at 5pm in Wellington.  The trade-weighted index fell to 72.43 points from 72.56. "In light of the implications of global developments for the economic outlook, as well as muted inflation pressures, the committee decided to lower the tar...

More Markets

Rua Gold secures funding to step up hunt for NZ gold
Markets

Rua Gold secures funding to step up hunt for NZ gold

The funds will be used to carry out exploration over the next 12 to 18 months.

Former CBL CFO must pay $1.2m for disclosure breaches
Markets

Former CBL CFO must pay $1.2m for disclosure breaches

The case was a first for New Zealand courts, FMA says.

Investore buys New Lynn Bunnings site for $43 million
Property

Investore buys New Lynn Bunnings site for $43 million

Investore Property has struck a deal to acquire the Bunnings complex in New Lynn, Auckland.The company told the market on Friday it had entered an unconditional agreement to acquire the property for $43 million.The 2.2-hectare site at 2–12 Titirangi Rd features an 11,000sq m buil...

Consumer confidence ticks up in June
Retail

Consumer confidence ticks up in June

The ANZ-Roy Morgan Consumer Confidence index lifted 6 points to 98.8 in June.The future conditions index – made up of forward-looking questions – rose 8 points to 104.8, recovering last month’s fall. The current conditions index rose 3 points to 89.8.Perceptions of current person...