The Reserve Bank of Australia kept its cash rate unchanged at 3 percent as expected, while saying it has room to ease further if needed in the face of tame inflation and noting more stability in the global economy. “The inflation outlook, as assessed at present, would afford scope to ease policy further, should that be necessary to support demand,” …

The New Zealand dollar climbed after the Reserve Bank of Australia kept rates on hold amid an improving economic recovery, and after retail sales and current account data across the Tasman beat expectations. The kiwi climbed to 82.92 US cents at 5pm in Wellington from 82.38 cents at 8am and 82.11 cent cents yesterday. The trade-weighted index rose to 76.12 …

Strong interest in the partial privatisation of MightyRiverPower was apparent today, with some 35,000 people pre-registering their interest in buying shares in the state-owned power company. Despite State-Owned Enterprises Minister Tony Ryall’s saying yesterday he’d sought assurances the www.mightyrivershares.govt.nz website could handle heavy traffic, it crashed briefly in the course of the day. The website provides information to New Zealand investors keen …