The Reserve Bank’s inflation target is crucial if it wants the private sector to believe its projected interest rate path, and means the monetary authority needs consistent communications, deputy governor Geoff Bascand says. The central bank is mandated to provide a type of forward guidance in its policy statements, which is typically the future track of the 90-day bank bill …

– New Zealand shares fell as investors punished Diligent Board Member Services for delaying its financial statements again and election-linked regulatory fears continued to weigh on power companies such as MightyRiverPower, Contact Energy and Meridian Energy. The NZX 50 Index dropped 49.698 points, or 1 percent, to 4734.155. Within the index, 38 stocks fell, four rose and eight were unchanged. …

New Zealand shares fell, pushing the NZX 50 index to a two-month low, as Infratil dropped in the wake of its buyback, Chorus suffered from the uncertainty around regulated price cuts, and Meridian Energy and MightyRiverPower declined. The NZX 50 dropped 14.206 points, or 0.3 percent, to 4719.949, the lowest close since Oct. 10. Within the index, 18 stocks fell, …