Nick Tuffley News
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New Zealand consumer prices rose less than economists forecast last quarter as a strengthening currency makes imports cheaper, adding to signs a period of record-low interest rates will be prolonged. The kiwi fell.
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Dairy-production growth in New Zealand may slow or remain flat this year as the world’s largest exporter suffers from the worst drought in at least three decades, pushing prices higher, according to ASB Bank Ltd.
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Most New Zealand consumers expect house prices to rise in the next 12 months as buyers spurred by low interest rates face a shortage of properties.
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More New Zealand consumers expect higher house prices, adding to the case for a pick-up in the residential property market that may deter the central bank from cutting interest rates, according to ASB Bank Ltd.
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New Zealand’s economy probably expanded last year at the fastest annual pace since the 2008 global financial crisis as a tourism boost from the Rugby World Cup outweighed weakness in manufacturing.
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New Zealand’s housing market will recover slowly, while a shortage of new construction is likely to bolster prices, ASB Bank Ltd. said, citing the results of a July survey.
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New Zealand’s central bank left interest rates at a record low, citing benign inflation, and signaled that the rising currency may delay an increase in borrowing costs.
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Ross Dale, a manager for equipment leasing company Hirepool Ltd., is outlining efforts to clean up Christchurch after the 7.0 earthquake that struck New Zealand’s second-largest city on Sept. 4, when the ground shakes again.
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New Zealand home buyers are less optimistic as a shortage of properties for sale bolsters prices, ASB Bank Ltd. said, citing the results of a January survey.
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More New Zealand consumers expect house prices to rise in the next 12 months as demand spurred by record-low interest rates outstrips supply.
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