![Kiwi slumps on Fonterra botulism scare](/pf/resources/images/placeholders/placeholder_l.png?d=793)
Kiwi slumps on Fonterra botulism scare
The NZ dollar has dropped a cent and a half in reaction to Fonterra's announcement.
The NZ dollar has dropped a cent and a half in reaction to Fonterra's announcement.
The New Zealand dollar's rapid rise against Australia's currency is expected to continue.
The weaker New Zealand dollar gave KiwiSaver funds with exposure to global share markets a shot in the arm over the June quarter.
The Reserve Bank governor has kept the official cash rate at 2.5 per cent, though he'll mull a hike if the momentum in housing spurs broader inflation.
The FMA has issued a public warning against doing business with a foreign currency exchange company.
The Prime Minister says first home buyers remain 'a priority' for the govt, but he's stopped short of endorsing a suggestion from one of his ministers.
Financial markets see almost no chance Reserve Bank governor Graeme Wheeler will move the official cash rate from its all-time low of 2.5 per cent.
Analysts expect to see steady earnings growth for listed companies with exposure to New Zealand when the 2012/13 results season gets under way next month.
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