New Zealand’s central bank Governor Graeme Wheeler is considering Chinese-style lending restrictions to curb a housing boom as weak economic growth and a surging currency rule out economy-wide interest rate rises.
New Zealand business expectations for inflation fell to a 13-year low in November, adding to the case for benign price pressure that may prolong a period of record-low interest rates, according to a private survey.
New Zealand business confidence rose for a third month in November on expectations for more hiring and investment in the next year and greater optimism about the nation’s economic recovery, a private survey showed.
In a fake cave in a Wellington suburb, tourists pose by a statue of Gandalf, a hero of the “Lord of the Rings” films that boosted New Zealand’s economy by more than $580 million. The country needs the wizard’s magic more than ever when he returns next month.