The New Zealand dollar hit a fresh post-float high on a trade-weighted basis as the Bank of Japan’s moves to print massive amounts of money keeps the kiwi well supported, and as Reserve Bank deputy governor Grant Spencer gave the local housing market a serve. The trade-weighted index climbed as high as 77.77, the highest since the currency was floated …

The Treasury forecasts the summer drought will knock 0.7 of a percentage point off annual economic growth, more than twice the 0.2 percent to 0.3 percent forecast by the Reserve Bank of New Zealand in its latest monetary policy statement, on March 14. In commentary accompanying its monthly economic update, the Treasury says the spike in global dairy prices will …

Telecom Corp, the country’s biggest telecommunications company, has set up a new incubator-style unit to come up with new services and products that can leverage the shift to an ultra-fast broadband world. The Auckland-based company has launched a digital ventures team to seek out high potential growth opportunities to deliver new revenue streams and generate bigger returns, it said in …