SkyCity first-half profit rises 12%; on track to achieve 'modest' FY growth
By Rebecca Howard Feb. 9 (BusinessDesk) - SkyCity Entertainment Group posted a 12 percent lift in first-half profit on growth from its combined New Zealand properties, a recovery in the international business and stable performance in Australia. New Zealand’s only listed casin...
NZ dollar falls after RBNZ stands pat, signals no change on timing of hikes
By Rebecca Howard Feb. 8 (BusinessDesk) - The New Zealand dollar fell to a four-week low against the greenback after the central bank kept rates on hold as expected and continued to signal no increases until at least the latter half of next year. The kiwi fell to 71.90, the...
RBNZ sits pat on expectation of renewed inflation, ready to cut if prices don't rise
By Rebecca Howard Feb. 8 (BusinessDesk) - The Reserve Bank is ready to cut interest rates if inflation doesn't emerge as expected, but has enough confidence consumer prices will start rising to stay on hold given the murky economic outlook. "We put our numbers together and...
RBNZ's Spencer says narrow yield premium on NZ bonds vs US may widen again
By Rebecca Howard Feb. 8 (BusinessDesk) - Reserve Bank acting governor Grant Spencer says the narrow yield premium on New Zealand government bonds versus their US counterparts may not last - despite the divergent interest rate tracks between the central banks. New Zealand...
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