NZ dollar slips as investors beef up rate cut expectations

Rebecca Howard
Thu, 07 Nov 2019

The New Zealand dollar fell as expectations increased that the Reserve Bank will move to cut rates next week. The kiwi was trading at 63.47 US cents at 5pm in Wellington versus 63.66 cents at 8am. The trade-weighted index was at 70.02 from 70.17. Market pricing shifted from a 50 percent chance of a rate cut to a 70 percent chance after data yesterday showed the seasonally adjusted unemployment rate rose to 4.2 percent in the three months ended Sep. 30, from 3.9 percent in the June quarter. Since yesterday’s unemployment data “the marke...
Southern Cross Travel to shed 45 jobs
Brent Melville | Tue, 02 Jun 2020

Southern Cross Travel Insurance plans to cut half of its remaining workforce in the wake of limited travel under covid-19 restrictions, although the rest of the group remains unscathed. The company...

MARKET CLOSE: NZ shares soar as investors get FOMO
Dan Brunskill | Tue, 02 Jun 2020

New Zealand shares rose as investors found confidence in the Prime Minister bringing forward a decision about the move to alert level 1. Tourism Holdings and Gentrack led the market higher with double...

Metlifecare seeks shareholder support for action against ex-suitor, EQT
Paul McBeth | Tue, 02 Jun 2020

Metlifecare will seek shareholder support to pursue litigation against its former suitor after the High Court rejected an application that would have preserved a shareholder vote on the teetering $1.5...

Telcos in lockdown, and beyond

Geoff Thorn, CEO, NZ Telecommunications Forum says modern connectivity was a major benefit during lockdown, so it’s important to ensure long term sustainability of the networks