NZ dollar slips to three-week low
The kiwi touched 74.23 US cents, and was trading at 74.43 cents at 8am in Wellington, from 74.99 cents at 5pm yesterday.
The kiwi touched 74.23 US cents, and was trading at 74.43 cents at 8am in Wellington, from 74.99 cents at 5pm yesterday.
China has had 35 years of hypergrowth, but now it's over. It's going to have to settle for really, really good growth instead.
The kiwi dropped yesterday after data showed annual wage inflation in the private sector slowed to a 0.3 per cent pace in the three months ended March 31.
The New Zealand dollar has dropped by US1c after labour data out this morning showed wage growth was less than expected.
The Reserve Bank is expected to keep its official cash rate unchanged at 3.5 per cent on Thursday but in the accompanying statement to shift the guidance needle slightly to the easier side of neutral.
A speech by the Reserve Bank's assistant governor and chief economist John McDermott gives support to market expectations that the next move in interest rates is likely to be down.
Labour leader Andrew Little says the Reserve Bank should target property speculators to ease the pressures on the Auckland housing market.
The New Zealand dollar has slipped to 98.84 Australian cents from 99.03 cents yesterday ahead of Australian employment data today.
Andrew Little says a speech from the Reserve Bank deputy governor was effectively saying there was a housing crisis – something John Key had refused to accept.
The New Zealand dollar has risen to a fresh record against the euro and commentators say it is likely to continue to break new ground.