Tag Archives: NZ Dollar

The persistent strength of the New Zealand dollar has been a “significant headwind” to the economy as it erodes export earnings and encourages local consumers to buy foreign-made goods, according to Reserve Bank governor Graeme Wheeler. The Reserve Bank has raised its forecasts for the currency over the coming two years, as international money markets chase yields in a low …

The New Zealand dollar followed its Australian counterpart higher after the Reserve Bank of Australia cut interest rates in line with expectations and soothing fears the world’s 12th biggest economy could be in for a big fall as its mining boom peaks. The kiwi increased to 82.243 US cents at 8am in Wellington from 82.29 cents yesterday, following the Australian …

The New Zealand dollar was little changed against its Australian counterpart as sluggish consumer spending across the Tasman stoked speculation the Reserve Bank of Australia may cut interest rates deeper than initially anticipated. The kiwi traded at 78.68 Australian cents from 78.65 cents on Friday in New York. The currency was little changed at 81.95 US cents at 5pm in …

  The New Zealand dollar was little changed against the Australian dollar amid expectations the Reserve Bank of Australia will cut its benchmark interest rate this week while New Zealand’s central bank will keep rates unchanged, narrowing the premium offered across the Tasman. The New Zealand dollar traded at 78.59 Australian cents from 78.65 cents in New York on Friday. …

Reserve Bank governor Graeme Wheeler will probably keep the official cash rate unchanged at a record low this week because there’s little sign that renewed life in the housing market and Christchurch’s rebuild is stoking inflation yet. Wheeler will leave the OCR unchanged at 2.5 percent on Thursday, according to all 12 economists in a Reuters survey. Looking out over …

The New Zealand dollar is set to end the month virtually unchanged against the greenback as US politicians try to navigate away from the fiscal cliff and trans-Tasman central banks prepare to review monetary policy next week. The kiwi traded at 82.23 US cents at 5pm in Wellington from 82.24 cents at 8am, and down from 82.41 cents yesterday. The …

The New Zealand dollar fell after US House of Representatives Speaker and senior Republican John Boehner dashed optimism politicians were getting closer to avoiding the fiscal cliff. The kiwi fell to 82.24 US cents at 8am in Wellington from 82.41 cents yesterday. The trade-weighted index declined to 73.58 from 73.74 yesterday. Investors eschewed risk-sensitive currencies such as the kiwi and …

The New Zealand dollar gained against its Australian counterpart after official figures showed business investment is slowing in Australia, which could be a key factor in its central bank interest rate decision next week. The kiwi rose to 78.75 Australian cents from 78.56 cents yesterday. It traded at 82.41 US cents at 5pm in Wellington from 82.34 cents at 8.30am, …

On the day Fisher and Paykel was sold overseas Rakon outsourced high-paying jobs to Asia, marking a dark day for Kiwi high-tech manufacturing, says Labour’s Economic Development spokesperson David Cunliffe. “Today New Zealand technology manufacturing lost an icon and 60 good jobs overseas. It’s a dark day for high-tech manufacturing and exports in New Zealand. “New Zealand has lost an …

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.5 percent in his debut review, and is keeping close tabs on the level of inflation after it dropped below the bank’s target band in the September quarter. Wheeler reintroduced the caveat that the record-low setting for the benchmark rate remains appropriate “for now” and brought inflation back in …