New Zealand shares rose after the Reserve Bank sparked a drop in the kiwi dollar, lifting prospects for companies with export sales such as Fisher & Paykel Healthcare. Xero rose to a record again, hitting $10 for the first time. The NZX 50 Index rose 39.95 points, or 0.9 percent, to 4381.09. Within the index, 26 stocks rose, 14 fell …

The New Zealand dollar sank to a four-month low against the greenback after the Reserve Bank threatened to cut interest rates if the currency appreciates unreasonably, and tumbled to a two-month low versus the Australian dollar after better than expected jobs figures across the Tasman. The kiwi fell to 81.74 US cents at 5pm in Wellington from 82.60 cents immediately …

The Reserve Bank’s prospective new toolkit to iron out asset bubbles won’t be able to stop a rampant Auckland housing market when it comes into play later this year, and would have a smaller impact than a rate hike. Deputy Governor Grant Spencer told Parliament’s finance and expenditure committee the macro-prudential tools currently being consulted on won’t stop Auckland’s “housing …