By Rebecca Howard Aug. 7 (BusinessDesk) - The Reserve Bank slashed the official cash rate by 50 basis points to 1 percent due to a softer outlook for employment and inflation, slower economic growth and weaker global conditions. The New Zealand dollar tumbled. "Our actions...
By Rebecca Howard Aug. 7 (BusinessDesk) - The New Zealand dollar remained under pressure after a soft dairy auction and ahead of the central bank’s rate decision. The kiwi was trading at 65.28 US cents at 7:55 am in Wellington versus 65.29 cents at 5pm. The trade-weighted i...
By Rebecca Howard Aug. 6 (BusinessDesk) - Business managers and finance professionals lowered their inflation expectations in the latest Reserve Bank survey. Respondents to the central bank's quarterly survey predict consumer price inflation of 1.71 percent a year from now...
By Rebecca Howard Aug. 6 (BusinessDesk) - New Zealand’s unemployment rate hit an 11-year low, but economists say the data won’t put off tomorrow’s widely expected rate cut and most say it doesn’t change anything down the track. The central bank is expected to cut rates by 2...
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