Coronavirus
Business-related coverage of the coronavirus outbreak and how it affects New Zealand.
Economy
RBNZ confident in upbeat growth outlook
The Reserve Bank knows it’s more upbeat on growth than market economists but says New Zealand’s current conditions back up its view.Yesterday, the central bank put the kibosh on any idea that it might cut rates further and said annual growth is expected to accelerate to a 3.1 per...
Markets
Synlait shares fall to 2-year low on profit downgrade
Shares in Synlait Milk fell to a two-year low after a softer infant formula market and the coronavirus outbreak sparked a profit warning.The shares fell as low as $6.86, and were recently down 16.8 percent at $6.90, the first time they have fallen below $7 since early 2018.The mi...
Economy
Coronavirus fears ease, may lift domestic market
Markets are likely to be buoyed by optimism the coronavirus may be contained while the kiwi dollar also remains supported after the central bank moved to a hiking bias.US and European markets lifted after China reported its lowest number of new coronavirus cases in two weeks, bol...
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Economy
UPDATE: RBNZ rate-cut off the cards; coronavirus impact short
The Reserve Bank kept the official cash rate at 1 percent as widely expected but stripped out any chance of another cut and said it expects the impact of the coronavirus to be relatively short lived.The New Zealand dollar jumped after the statement and recently traded at 64.62 US...
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