Tag Archives: Reserve Bank

The New Zealand dollar fell ahead of a report by the central bank today which may flag concern about the country’s buoyant housing market and the impact of a high currency on exporters. The kiwi fell to 84.59 U.S. cents from 84.94 cents at 5pm in Wellington yesterday, while the trade-weighted index dropped to 78.26 from 78.58. Traders will be …

Westpac New Zealand has pulled back on its level of mortgage lending where it wears the bulk of the risk, amid increasingly volatile house prices. The lender has reduced its level of lending above an 80 percent loan-to-value ratio (LVR) to about 21 percent from about 22 percent a year after house prices in Auckland and Christchurch rose at a …

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.5 percent, talking down the threat of soft inflation in recent months and reiterating his view the New Zealand dollar is “overvalued”. The kiwi jumped after the statement. “The high New Zealand dollar continues to be a significant headwind for the tradables sector, restricting export earnings and encouraging demand …

The New Zealand dollar rose against the euro after German manufacturing and euro-zone services weakened and edged up against the greenback ahead of the reserve Bank’s interest rate review. The kiwi dollar rose to 64.61 euro cents from 64.33 cents at 5pm in Wellington yesterday. It gained to 84.04 US cents from 83.94 cents. A survey of purchasing managers in …

The New Zealand dollar is heading for a 1.8 percent fall against the greenback as optimism about the health of the global economy fades, sapping demand for risk-sensitive assets. The kiwi rose to 84.34 US cents at 5pm in Wellington from 84.11 cents at 8am, down from 84.52 cents yesterday. The trade-weighted index fell to 77.81 at 5pm from 78 …

New Zealand consumer prices rose in line with expectations in the first three months of the year, led by more expensive cigarettes and tobacco from rising excise duty and higher costs for prescription medicines. The consumers’ price index increased 0.4 percent in the three months ended March 31, matching the consensus forecast among economists, for an annual pace of 0.9 …

The New Zealand dollar rose back above 85 US cents before figures that are expected to show a pick-up in quarterly inflation and after gains on Wall Street and a modest increase in dairy prices to a new record. The kiwi gained to 84.92 US cents, and earlier reached 85.06 cents, from 84.79 cents at 5pm in Wellington yesterday. The …

Reserve Bank governor Graeme Wheeler singled out rising house prices as a threat to the country’s financial stability and kept the official cash rate at 2.5 percent, as expected, saying the overvalued New Zealand dollar was holding consumer prices below the bank’s target band. “The bank does not want to see financial stability or inflation risks accentuated by housing demand …

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 …