Spectre of negative rates takes shine off kiwi dollar

Tue, 18 Aug 2020

Some of the shine is coming off the kiwi dollar as negative interest rates look increasingly plausible as the country grapples with another outbreak of covid-19. The kiwi fell to 65.37 US cents at 3:20pm from 65.73 at 8am, and was down at 90.63 Australian cents from 90.87 after another bank economics team predicted the Reserve Bank will adopt a negative rates policy early next year. The two-year swap rate hit a record low, falling 6.75 basis points to 0.045 percent. The move came after ANZ Bank NZ said it expects the central bank to cut t...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

The Quiz Free

QuiznessDesk, Friday, Sept 12

Take a break and try our quiz.

The Quizmaster 9:15am

Infrastructure

150 years of infrastructure spending going ‘boom’

We actually spend a lot more on infrastructure than you might think.

Brianna McIlraith 9:00am

150 years of infrastructure spending going ‘boom’

Policy

F&P Healthcare one step closer to new Karaka campus

Auckland Council has approved a request to rezone nearly 90ha going to hearings.

Oliver Lewis 5:00am

F&P Healthcare one step closer to new Karaka campus

Sponsored

Future leaders start by Dreaming Big

How OnBeingBold empowers Year 13 girls at free leadership events.

OnBeingBold

Sponsored

Free AI training blitz targets 10,000 Kiwis

Workshops aim to close NZ’s AI skills gap and boost productivity – no tech skills required.

Sponsored by Lumify

More Markets

Markets

Vital takeover bid passes threshold at 11th hour

Tait International has secured acceptances to meet the 90% minimum condition for its Vital takeover less than a day before the offer was set to expire.Vital filed a substantial product holder (SPH) notice to the NZX on Friday morning, which showed Tait's stake lifted to 92.1%...

Gregor Thompson 11:33am