The New Zealand dollar rose after Reserve Bank governor Graeme Wheeler kept his forecast track for interest rates almost unchanged and gave no signal there’s room for the official cash rate to be cut. The kiwi dollar rose to 82.81 US cents from 82.49 cents immediately before the monetary policy statement was released. The trade-weighted index rose to 73.84 from …

New Zealand’s unemployment rate of 7.3 percent overstates the weakness of the country’s labour market, which has been tapering off through the latter half of this year, the Reserve Bank says. The bank’s latest forecast is more downbeat about the level of unemployment over the next two years, but isn’t convinced joblessness is at a 13-year high as shown in …

The persistent strength of the New Zealand dollar has been a “significant headwind” to the economy as it erodes export earnings and encourages local consumers to buy foreign-made goods, according to Reserve Bank governor Graeme Wheeler. The Reserve Bank has raised its forecasts for the currency over the coming two years, as international money markets chase yields in a low …