FIRST CUT: RBNZ defies economists and holds OCR at 1%
The Reserve Bank held interest rates steady, saying economic changes since its last review in August "do not warrant a change to the already stimulatory monetary setting at this time." RBNZ held the official cash rate at 1 percent after previously cutting it by 75 basis points...
Investore's net profit up 10%; distributable profit down 10%
Investore Property's first-half net profit rose 10 percent, with unrealized gains in the value of its "big box" retail properties partly offset by performance fees paid to manager Stride.The company, which owns buildings for supermarkets such as Countdown and Pak'nSave as well as...
NZ dollar falls as waning inflation expectations boost odds of OCR cut
The New Zealand dollar fell after a survey showed inflation expectations remain anchored well below the Reserve Bank's target, making it more likely the central bank will cut interest rates again tomorrow.The kiwi was trading at 63.33 US cents at 5:05pm in Wellington, up from 63....
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