Tag Archives: Reserve Bank

The New Zealand dollar may struggle for direction this week as investors weigh the possibility of a higher interest rate track in New Zealand against signs of recovery in the US. The kiwi may trade between 77 US cents and 81 cents this week, according to a BusinessDesk survey of six traders and strategists who were split on the local …

New Zealand property values held their annual pace of growth last month, as demand outstripped supply in Auckland and Christchurch, according to state valuer Quotable Value. National property values increased 7.1 percent in the 12 months ended May 31, matching the annual pace for April, the agency said in a statement. Property values increased 1.7 percent in the three months …

Reserve Bank governor Graeme Wheeler faces the same tensions between a high kiwi dollar and a heated housing market that have informed his monetary policy decisions all year and no change is likely at next week’s review as inflation stays low. Wheeler will keep the official cash rate at 2.5 percent when he releases the monetary policy statement on June …

The New Zealand government reported a smaller operating deficit than predicted in last month’s Budget forecasts as improving corporate profitability underpinned a bigger company tax take. The operating balance before gains and losses (obegal) was a deficit of $3.99 billion in the 10 months ended April 30, smaller than the $4.65 billion shortfall projected in the Budget Economic and Fiscal …

The New Zealand dollar fell after Reserve Bank governor Graeme Wheeler said yesterday he is prepared to keep intervening in foreign exchange markets to limit the rise of the local currency. The kiwi fell as low as 80.03 US cents, from 81.15 cents at 5pm yesterday, and recently traded at 80.76 cents. The trade-weighted index slipped to 75.89 from 76.41 …

Reserve Bank governor Graeme Wheeler is prepared to ramp up the scale of the bank’s currency intervention as he looks to keep a lid on the kiwi, which is 18 percent above its 15-year average. The central bank has “undertaken some foreign exchange transactions” in recent months to take the heat out of the exchange rate, and will boost the …

New Zealand’s Reserve Bank will likely use its new macro prudential tools within the next six months to cool Auckland’s overheated housing market and follow up with interest rate rises, according to the New Zealand Institute of Economic Research. “The Reserve Bank will want to use and have to use macro prudential tools over the next six months,” Shamubeel Eaqub, …

The Reserve Bank of New Zealand says it intervened in foreign exchange markets in an attempt to drive the kiwi lower. It gave no details of the size of the intervention. The kiwi dollar tumbled to 83.90 US cents from 84.48 cents before his comments were telegraphed at the finance and expenditure select committee in Wellington. The trade-weighted index dropped …

The New Zealand dollar, which has gained 11 percent from its lows a year ago on a trade-weighted basis, is “significantly overvalued,” Reserve Bank governor Graeme Wheeler says. He made the comments at a media briefing in Wellington following the release of the bank’s six-monthly financial stability report, which highlighted the risks of an overheating housing market. The bank expects …

The Reserve Bank would impose the most controversial of its new tools – a limit on riskier mortgage lending with smaller deposits – if it judged those loans to be a “significant risk” to the country’s financial stability. The central bank has completed its public consultation on the use of macro-prudential tools, which aim to curb asset bubbles, and will …