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New Zealand business confidence surged to the highest in five quarters, a private survey showed, sending the nation’s currency higher on signs of faster economic growth this year.
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New Zealand’s central bank will keep the official cash rate at a record-low 2.5 percent next year even if food and fuel prices surge, the New Zealand Institute of Economic Research said.
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New Zealand’s central bank will keep the official cash rate at a record-low 2.5 percent until early 2014 because of falling exports and increasing global risks, the New Zealand Institute of Economic Research said.
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New Zealand’s business confidence fell in the third quarter to the lowest level since mid-2009, weakening the case for further interest-rate increases.
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New Zealand’s central bank will keep the official cash rate at a record-low 2.5 percent until mid-2013 because of a sluggish economy and subdued inflation, the New Zealand Institute of Economic Research said.
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New Zealand business confidence slumped to a two-year low in the first quarter after an earthquake killed at least 170 people and forced companies to close in the nation’s second-largest city.
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New Zealand’s economic growth may almost stall this year, a research group predicted after the government estimated earthquakes in Christchurch caused as much as NZ$20 billion ($15 billion) in damage.
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New Zealand’s central bank would need to lower the official cash rate if the euro region splinters, the New Zealand Institute of Economic Research said, citing a one-in-four chance of such a scenario.
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New Zealand’s dollar, the best performing G-10 currency in the past three months, is likely to stay high and help limit price gains, according to the New Zealand Institute of Economic Research.
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New Zealand likely avoided a recession last year due to a recovery in business confidence led by exports, consumer spending and construction, economists say.
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