The Reserve Bank of Australia cut its key interest rate to within 25 basis points of New Zealand’s benchmark, sending the kiwi higher against the Australian dollar, as inflation tracks lower than the central bank expected and global growth remains ‘below trend’. The RBA cut its cash rate to 2.75 percent, the first cut since its Dec. 5 decision. Governor …

A petition for a referendum on state asset sales has failed to garner enough signatures after double entries were weeded out and Labour has vowed to try to fill the gap over the next two months. The petition, promoted by Labour, the Greens and Grey Power, required 10 percent of eligible voters, or 308,753 signatures, to force a referendum. It …

Australian payroll provider Talent2 will keep its $105 million 10 year contract to to provide New Zealand’s public education payroll service after the government decided switching to the old provider, Datacom, simply exchanged one set of risks for another. Minister Responsible for Novopay Steven Joyce announced the Talent2 contract will “remain under review”, but the decision effectively leaves Talent2 in …