Trade Me, the auction website, agreed to acquire MotorWeb for $19.5 million in cash to deepen its motor vehicle offering by adding a business forecast to lift earnings in 2014. Auckland-based MotorWeb had earnings before interest, tax, depreciation and amortisation of $3.7 million in the year ended March 31, and expects to lift earnings on the basis to $4.1 million …

Strong commodity prices, particularly for dairy products, could drive up interest rates more than currently expected if they continue to keep the terms of trade at elevated levels, the Reserve Bank says. In an alternative scenario in today’s monetary policy statement, the bank projected a more aggressive tightening cycle if global demand for New Zealand exports keeps commodity prices high …

Reserve Bank governor Graeme Wheeler kept the official cash rate at a record-low 2.5 percent, while lifting the projected path for interest rates and saying he’s ready to start hiking “as needed” to keep inflation under control. The kiwi gained on the statement. “Annual CPI inflation increased to 1.4 percent in the September quarter and inflation pressures are projected to …