The members of a “shadow board” looking over the shoulder of Reserve Bank of New Zealand governor Graeme Wheeler are more in favour of a cut in the official cash rate than a rise. Economists widely expect Wheeler to hold the official cash rate at 2.5 percent on Thursday and that is also the official line of the New Zealand …

The New Zealand dollar is firm, reflecting indications of improving European economies and the expectation that central banks in New Zealand and the United States will keep policy easy this week. The kiwi was at 83.73 US cents at 8am, up from 83.61 US cents at 5pm on Tuesday. The international backdrop is looking better with the Dow Jones Industrial …

Better-than-expected profit outlooks from drug makers Pfizer and Eli Lilly bolstered Wall Street, while a rise in US home prices also underpinned optimism that the economic recovery is kicking into gear. Shares of Pfizer gained, last up 3.1 percent, after the company predicted 2013 profit that surpassed expectations. So did Eli Lilly, boosting its shares 3.8 percent. Of the 174 …