The New Zealand dollar will stay at an elevated level for longer than previously thought as the local economic story finds favour with foreign investors, according to the Reserve Bank. The trade-weighted index, a measure of the kiwi against a basket of five currencies, averaged 78.18 in the March quarter, ahead of the Reserve Bank’s December projection of 77.4 in …

New Zealand’s property market has cooled a little as restrictions on the level of low-equity home loans and rising mortgage rates have tempered demand in recent months, the Reserve Bank says. Annual house price inflation slowed to 8.8 percent in January from a pace of 9.7 percent in October, with the moderation influenced by the Reserve Bank’s limits on the …

Reserve Bank governor Graeme Wheeler lifted the official cash rate a quarter-point to 2.75 percent in the first move of a tightening cycle, and signalled potential for a steeper track for future hikes as he tries to prevent inflation accelerating. “While headline inflation has been moderate, inflationary pressures are increasing and are expected to continue doing so over the next …