The New Zealand dollar gained after the Reserve Bank said it will need to remove monetary stimulus as heat in the housing and construction sector spills over into the broader economy and stokes inflation. The kiwi dollar climbed to 79.75 US cents after governor Graeme Wheeler’s statement, from 79.30 cents immediately before. The trade-weighted index rose to 75.51 from 75.17 …

New Zealand’s capital city will be open for business tomorrow after a 6.5 magnitude earthquake hit the Cook Strait, while scientists say there’s a one-in-five chance of a similar-size temblor this week. Wellington Mayor Celia Wade-Brown told a media briefing today it will be up to employers to determine whether their staff should come in. Portions of the city were …

A 6.5 magnitude earthquake in New Zealand’s Cook Strait has closed Wellington financial trading rooms and shut down portions in the capital city as local authorities assess the damage. Wellington trading desks at Bank of New Zealand and ANZ Bank New Zealand are closed as corporates in the capital join the rest of the city in checking buildings following a …