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 …

New Zealanders are following the global trend of abandoning landlines in favour of mobile phones and online communication, leaving telecommunication companies racing to find new revenue streams, said Paul Brislen CEO of Telecommunications Users Association of New Zealand. The 2013 census shows that 81 percent, or 1.3 million New Zealand households had access to a fixed-line telephone, down from 88 …