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Dollar advances ahead of Reserve Bank decision
The New Zealand dollar has advanced ahead of the Reserve Bank's official cash rate announcement this morning.
The New Zealand dollar has advanced ahead of the Reserve Bank's official cash rate announcement this morning.
Global equity markets gained and commodity markets rallied overnight, triggered in part by a late surge in Chinese equities.
The mortgage rate war is heating up ahead of a widely tipped rates cut on Thursday, with ASB now matching the 4.35pc rate BNZ unveiled last week.
Traders have put 78 per cent odds of Reserve Bank governor Graeme Wheeler cutting the official cash rate.
European Central Bank President Mario Draghi was asked last week whether his institution should consider revising its 2 per cent inflation target.
The NZ dollar declined after US labour market data left open the possibility of US interest rate hikes this month.
Will they or won't they is the question that has been on investors' minds as they try to guess when the US Federal Reserve will raise official rates.
BNZ reduces one-year fixed rate to 4.35 per cent ahead of Reserve Bank's expected announcement that OCR will be cut.
Banks appear to have come to the party for NZ farmers needing support during the dairy downturn.
US economic data has kept alive expectations the Federal Reserve may hike interest rates this month.
The dollar fell after weak Chinese factory data yesterday raised concerns about a slowdown in Asia's largest economy.
The U.S. Justice Department is finalising agreements with Swiss banks that may have helped Americans evade taxes.
Investors are selling currencies such as the kiwi as they unwind so called 'carry trades'.
Business confidence has dropped to levels last seen in the immediate aftermath of the global financial crisis.
Liam Dann writes: Inflation is not dead and there seems no doubt market volatility and the slowdown in China were top of mind for many.
The USD strengthened after Fed Reserve officials signalled the US central bank is on track for a potential rate hike next month.
The dollar edged up with gains limited by a stronger US dollar buoyed by better economic data.
It follows a period of volatile trading as investor confidence about weakness in China abated.
The New Zealand dollar slumped to its lowest level in six years as equities sank amid concerns about global growth.
The dollar rose as traders delayed their expectations for US interest rate hikes, broadly weakening the greenback.
Royal Bank of Scotland boss Ross McEwan follows through on his promise to return $2.4m of his share-based allowance by last week giving $1.2m to charity.
Q: A few years ago my daughter entered the workforce. She got a credit card with a limit of $500. Within a year the bank sent a letter raising the limit to $10,000.
The New Zealand dollar gained as traders pare back bets for the Federal Reserve to hike interest rates next month.
Mondo chief has told UK regulators he wants to run a new type of bank.
The dollar jumped after US Fed minutes pushed out expectations for a US interest rate hike, damping greenback demand.
Aucklanders looking to withdraw cash from ATMs might be in trouble as security guards used to replenish ATM machines in the city go on strike.
The dollar was little changed after dairy product prices jumped as expected at auction overnight.
NZ's five biggest banks continued to show strong earnings growth, but questions are being raised about whether this can be sustained.
The slip came as net interest income for ANZ Bank's NZ arm rose 4 per cent in the past financial year to $2.14 billion.