The New Zealand dollar slipped in local trading as investors await US Federal Reserve chairman Ben Bernanke’s Congressional testimony, where they’ll look for any hints on the central bank unwinding its asset purchase programme. The kiwi traded at 78.70 US cents at 5pm in Wellington from 78.97 cents at 8am and 78.28 cents yesterday. The trade-weighted index edged up to …

The kiwi dollar is holding below levels the Reserve Bank is forecasting for the third quarter though that’s unlikely to be enough to change its view of the interest rate outlook this week. The central bank will keep the official cash rate at 2.5 percent on Thursday, according to a Reuters survey of 16 economists. The bank will hike the …

The government employed Financial Markets Authority chairman Simon Allen to help negotiate its $402 million convention centre-for-gaming concessions deal with SkyCity Entertainment Group. Allen, a former investment banker who has chaired the market watchdog since May 2011, took a key role in talks with the casino and hotel group, according to papers released by Ministry of Business, Innovation and Employment …