![Dollar dives after rate hike](/pf/resources/images/placeholders/placeholder_l.png?d=793)
Dollar dives after rate hike
The Reserve Bank governor Graeme Wheeler has raised the official cash rate as expected - leading the kiwi dollar to instantly take a tumble.
The Reserve Bank governor Graeme Wheeler has raised the official cash rate as expected - leading the kiwi dollar to instantly take a tumble.
Finance Minister Bill English said the Kiwi dollar, which hit a record on a trade-weighted basis this year, is "unsustainably high".
The Kiwi dollar extended its slide as the crash of a Malaysian jet in rebel-held Ukraine and a ground offensive in Gaza sapped risk appetite worldwide.
Competition among banks to attract companies trading in the fast-growing market between New Zealand and China is ramping up
China Construction Bank has been licensed by the Reserve Bank, making it the country's 24th registered lender.
BNZ's head of migrant banking, Frank Cui, reckons he has a pretty good grasp of the challenges immigrants face when building a new life in NZ.
The New Zealand dollar touched a 13-month high against the euro overnight.
The New Zealand dollar is within striking distance of its post-float high against the US dollar and may surpass it, says an analyst.
The boss of New Zealand's first peer-to-peer lending service, Harmoney, says the online platform will shake up the personal loan market and give retail investors a new option.
A former banking boss traded without the knowledge of his co-directors at a consultancy business and rather than putting the firm's account on invoices he put bank accounts of companies he personally controlled, the High Court was told.
A former banking boss breached duties owed to a consultancy firm he helped set up, profited at its expense, and is now liable to it for more than $1 million.