NZ dollar flying high

NZ dollar flying high
The weaker greenback is giving the kiwi wings. (Image: Getty)
Rebecca Howard
The New Zealand dollar has shot up more than 10% against the US dollar over the past month, giving importers some relief. It last traded at 61.64 US (NZ$1) cents versus 55.76 US cents a month ago, a 10.6% gain. The move puts it back up at levels last seen in August. There are a range of factors at play. “These include the weaker USD [US dollar] backdrop, increased hope of a gradual easing of China’s zero-covid policy and domestic factors such as a more hawkish Reserve Bank policy update at the October monetary policy...

More Economy

Annual inflation at 2.2% in December quarter
Economy

Annual inflation at 2.2% in December quarter

The lift follows a 2.2% increase in the 12 months to the September quarter.

Card transaction data ‘much stronger than expected’:
Retail

Card transaction data ‘much stronger than expected’:

Stats NZ data shows retail spending has grown for five consecutive months.

Gregor Thompson 21 Jan 2025
NZ service sector underperforming globally
Economy

NZ service sector underperforming globally

New Zealand's Performance of Services Index is the only one in contraction among its key trading partners.The BNZ – BusinessNZ's performance index (PSI) fell to 47.9 in December from 49.1 in November.  “Our neighbour Australia is the closest comparison, but their equivale...

Staff reporters 21 Jan 2025
December inflation likely on target
Economy

December inflation likely on target

Annual inflation likely around 2.1%-2.2% in the December quarter.

Rebecca Howard 20 Jan 2025