New Zealand stocks fell, tracking a global decline, as investors’ fears of faltering economic recovery were exacerbated by poor manufacturing data in the US, and China. Xero led the market lower, with Trade Me Group and Port of Tauranga pacing the decline. The NZX 50 Index dropped 46.883 points or about 1 percent to 4802.619, its lowest in three weeks. …

The Reserve Bank of Australia kept its benchmark interest rate at a record low 2.5 percent and dropped its reference to policy adjustments in favour of stability, a move seen as code for an end to its easing bias that sent its currency up about 1 US cent. “Monetary policy is appropriately configured to foster sustainable growth in demand and …

The New Zealand dollar fell to a two-month low against its trans-Tasman counterpart after the Reserve Bank of Australia moved away from further rate cuts after inflation came in higher than expected and Australian consumer spending shows signs of life. The kiwi fell to 91.45 Australian cents at 5pm in Wellington from 92.33 cents immediately before the release, and down …