The New Zealand dollar firmed against the Australian dollar after a weaker-than-expected inflation report increased the chances of a an official interest rate cut by the Reserve Bank of Australia. The kiwi was at 79.78 Australian cents at 5pm, up from 79.53 Australian cents at 8am. The aussie dollar weakened on news that the headline consumers price index rose 0.2 …

A $40 million government procurement deal to supply wallboard for the Christchurch rebuild is being used as a way to inject competition into New Zealand’s high-cost home building market. With home affordability a hot political issue, and lack of competition for building supplies identified as a key issue by a Productivity Commission report, the government has announced it will split …

Mortgage applications rose nearly 20 percent in December from a year ago and people are also taking out more personal loans, in what personal credit rating agency Veda says proves the economy is recovering. Veda sees 98 percent of all credit applications and says it sees evidence of a revitalised credit cycle and indicates New Zealanders are increasingly confident about …