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NZ dollar jumps after RBNZ cuts rates, softens FX stance WELLINGTON: The New Zealand dollar jumped to a one-week high on Thursday after the Reserve Bank of New Zealand delivered a smaller interest rate cut than some in the market expected and softened its rhetoric on the kiwi following its recent, dramatic fall. The kiwi climbed half a US cent to $0.6654, its highest since July 15, after the central bank cut its Official Cash Rate by 25 basis points to 3.0 percent in response to a dimmer economic outlook and lower inflation. The easing was widely expected by economists, although some investors had betted on the chance of a bigger cut. The RBNZ flagged the prospect for more rate cuts, which is seen pushing the kiwi lower in the coming months. But in response to the kiwi's roughly 16 percent slide since May, the RBNZ also removed references to currency strength, which market participants took as a green light ...

Australia, NZ dollars subdued after week of contrasting fortunes SYDNEY: The Australian and New Zealand dollars were subdued on Friday after a week that saw the Aussie rally as chances for a interest rate cut receded, while the kiwi was set for an eighth week of decline as New Zealand's central bank began an easing cycle.The Aussie was steady at $0.7748, not far off a peak of $0.7793 set on Thursday after a surprisingly strong employment report made another interest rate cut unlikely. On ...
NZ dollar edges up after Fonterra milk payout announcement WELLINGTON: The New Zealand dollar rose on Thursday after dairy co-operative Fonterra forecast a slight improvement in global milk prices in the coming year. The kiwi rose to around $0.7260 after the world's biggest dairy exporter announced an initial farmgate payout forecast of NZ$5.25 ($3.81) per kilogram milk solids, compared with this year's NZ$4.50. The kiwi recovered from an initial dip to around $0.7220 after the announcement. Copyright Reuters, 2015 ...
Australia, NZ dollars at multi-week lows on Fed hike risk SYDNEY/WELLINGTON: The Australian and New Zealand dollars fell to multi-week lows on Wednesday as the US dollar got a lift from growing expectations of an interest rate hike later this year.The Australian dollar eased to its weakest in a month at $0.7726, after major support at around $0.7775 gave way. It slumped 1.2 percent on Tuesday, and now has lost more than four cents since mid-May. It last traded at $0.7742.Upbeat US economic data gave ...
Australian and NZ dollars rise on euro, lag on USD SYDNEY/WELLINGTON: The Australian and New Zealand dollars extended gains versus the euro as more easing by the European Central Bank and the ongoing Greek debt crisis dented appetite for the common currency.They had less luck against a firm US dollar with the Aussie sluggish at $0.7826, not far from a three-week low of $0.7804 set on Monday. Support was found at a major retracement level of $0.7775.It has shed more than 3 cents since it ...
NZ Q1 jobless rate flat, wages contained  WELLINGTON: New Zealand's jobless rate was unchanged in the first quarter as the number of jobs created roughly matched the growth in thee workforce, while wage costs remained contained, backing views the central bank can hold rates for the forseeable future.The unemployment rate was steady at 5.8 percent, with about 16,000 jobs created, while the participation rate hit a record high of 69.4, according to official data on Wednesday.Statistics New Zealand said it had revised ...
Australian, NZ dollars on track to post hefty weekly gains SYDNEY/WELLINGTON: The Australian and New Zealand dollars hovered near three-week highs on Friday, buoyed by broad weakness in their US counterpart and an upbeat Australian job report, putting them on track for hefty gains this week.The Australian dollar nudged lower at $0.7773, from $0.7802 early, but was still up 1.4 percent this week in a rare consecutive week of gains. It has added 2.4 percent in April which, if sustained, would be the largest monthly ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln