UPDATE: RBNZ keeps OCR at 1% but November cut may be off the cards
(Recasts lead and updates to add comment from economists, detail throughout) By Rebecca Howard Sept. 25 (BusinessDesk) - The Reserve Bank of New Zealand kept interest rates on hold at 1 percent as expected and the Kiwi dollar rose as a November rate cut - while possible - m...
NZ August trade deficit tad wider than expected on more imports
By Rebecca Howard Sept. 25 (BusinessDesk) - New Zealand’s August trade deficit was $1.6 billion, slightly wider than economists had expected, as imports came in higher than forecast. Economists polled by Bloomberg had expected a monthly deficit of $1.4 billion and an annual...
Fonterra now has $1 billion available for debt reduction
By Rebecca Howard Sept. 25 (BusinessDesk) - Fonterra Cooperative Group said it has agreed to sell its 50 percent stake in DFE Pharma for $633 million and now has over $1 billion available to repay debt. Fonterra is in the midst of a cooperative-wide strategic review after r...
NZ dollar higher on weak US data, reduced rate cut expectations for Australia
By Rebecca Howard Sept. 25 (BusinessDesk) - The New Zealand dollar got an overnight lift on soft US consumer confidence numbers and after investors pared back expectations for an October rate cut in Australia. The kiwi was trading at 63.27 US cents at 8am in Wellington from...
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