The New Zealand dollar may be capped under US70 cents this week ahead of the central bank's monetary policy statement.

Most economists are picking Alan Bollard to leave the OCR unchanged this week, but they're looking carefully for any changes in rhetoric - how much does he think things are improving?

The official cash rate is useless and policy is needed to focus on the importance of trade rather than the financial market, an inquiry was told today.

Bank of New Zealand has reported a $183 million bottom line loss in the nine months to June 30.

There's been a big lift in business confidence over the past month.