The Reserve Bank won’t start lifting restrictions on home loans with small deposits any earlier than late in the year, with the limits cooling demand in the country’s housing market, deputy governor Grant Spencer says. The restrictions have slowed house price inflation by about 2.5 percentage points and strengthened banks’ balance sheets by reducing the level of high loan-to-value ratio …

The New Zealand dollar dropped to its lowest in more than a week against the Australian currency on improving economic prospects across the Tasman. The kiwi touched 91.91 Australian cents early this morning, its lowest level since April 28, and was trading at 92.21 cents at 8am in Wellington, from 92.40 cents at 5pm yesterday. The local currency edged lower …

European stocks climbed while the euro slid against the US dollar as European Central Bank President Mario Draghi signalled a potential interest rate cut next month. The ECB kept, as had been anticipated, its key interest rate steady at a record low 0.25 percent but suggested it might lower it in June if needed. “The governing council is comfortable with …