The New Zealand government posted a smaller operating deficit than expected in the first four months of the financial year as it reported a bigger personal tax take and reaped more from customs duties on imported tobacco. The Crown’s operating balance before gains and losses (obegal) was $1.75 billion in the four months ended Oct. 31, smaller than the $2.14 …

The Commerce Commission is consulting with the telecommunications industry over what price Chorus can charge rivals to access its copper telephone lines, suggesting a review process could be accelerated and the final price backdated. The Commerce Commission is reviewing the price by building a full cost model on Chorus’s unbundled local loop, which lets retailers rent the lines for voice …

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 …