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MARKET CLOSE NZ shares rise in absence of US budget impasse progress
Oct. 2 (BusinessDesk) – New Zealand shares rallied along with other regional bourses, as equity investors appeared to shrug off the US federal budget impasse for want of new information. The NZX 50 Index rose 24.998 points, or 0.5 percent, to 4,768.870. Within the index, 26 stoc...
NZ’s tepid productivity has driven down ‘neutral’ interest rates, says RBNZ
Oct. 2 (BusinessDesk) – Neutral interest rates in New Zealand, the theoretical level of borrowing costs that neither stimulates nor restricts the economy, have fallen in recent years and the nation’s weak productivity growth is the most likely culprit, the central bank says. Re...
NZ dollar extends slide on US budget impasse, view on local rates
Oct. 2 (BusinessDesk) – The New Zealand dollar extended its slide as the US government shutdown and looming debt ceiling deadline sapped investors’ risk appetite and demand for growth-linked currencies such as the kiwi. The local dollar fell to 82.24 US cents at 5pm in Wellingt...
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