News



FOMC will begin to taper down QE if economy continues to recover - Interest, 23 May 2013 Tweet By Mike Jones NZD The NZD/USD has succumbed to a burst higher in the USD early this morning, sliding 1.3% to around 0.8070. Global financial markets are reeling from Fed chairman Bernanke’s confirmation this morning that an end to QE...


Clawback provision for research grants welcomed - Stuff, 20 May 2013 Companies that get Government research funding may have to pay it back if they move overseas within three years.


NZ close to Taiwan free trade agreement - Stuff, 19 May 2013 New Zealand is poised to sign its first free trade agreement in more than three years, with an announcement of a deal with Taiwan expected in the coming months.


Bill English set to deliver budget with around NZ$800 million of discretionary net new spending... - Interest, 16 May 2013 Tweet By Bernard Hickey Finance Minister Bill English is set to reveal a slightly looser Budget for 2013/14 at 2pm, including discretionary net new spending up to an expected cap of NZ$800 million. This contrasts with the last two 'zero'...


NZ businesses 'need to be wary as Europe danger continues' - Voxy, 15 May 2013 While the New Zealand economy keeps warm under a safety blanket called the Asian growth, the dangers of Europe should not be forgotten.


Three UC graduates in NZ Hi-Tech Awards finals - Voxy, 15 May 2013 Three University of Canterbury (UC) graduates - James Robertson, Sam Davies Talwar and Guy Horrocks - are in the finals of the New Zealand Hi-Tech Awards which will be presented in Auckland on Friday night.


The Opening Bell: Where currencies start for Tuesday, May 14, 2013 - Interest, 14 May 2013 Tweet By Dan Bell The NZDUSD opens lower at 0.8245, having hit an 8-week low of 0.8229 earlier this morning. The USD rose across the board...


US economy outperforming much of the developed world and market watchers contemplating Fed’s exit... - Interest, 13 May 2013 Tweet By Mike Jones NZD Currency markets exploded into life last week, as the USD blasted higher. The move was centred on USD/JPY, but all of the major currencies were affected. As a result, the NZD/USD finished the week 2.8% lower around...


90 seconds at 9 am: US dollar gains; worries about Japan grow; BofE holds rates; dairy prices... - Interest, 10 May 2013 Tweet Here's my summary of the key news overnight in 90 seconds at 9 am, including news the US dollar is on a strengthening...


90 seconds at 9 am: Small countries try currency intervention; China exports strong; equity... - Interest, 9 May 2013 Tweet Here's my summary of the key news overnight in 90 seconds at 9 am, including news that yesterdays revelation...


Asia-Pacific Nations Push to Rein In Rising Currencies - New York Times, 9 May 2013 Policy makers across the region have deployed a range of tools to try to dampen the adverse effects that can come when too much money flows into an economy....


House price expectations reach new high - survey - Voxy, 8 May 2013 House price expectations have reached a new high in the latest ASB Housing Confidence Survey. A net 63% of respondents now expect prices to rise over the next 12 months, exceeding the previous peak of net 61% recorded in January 2003.


Roger J Kerr shows why the NZD has been outperforming the AUD and may continue to do that - Interest, 6 May 2013 Tweet By Roger J Kerr A feature of the local foreign exchange market over recent weeks has been the stellar performance of the NZ dollar against the Aussie dollar. The NZD/AUD cross-rate approaching 0.8300 after...


Scorn or debate - what NZ Power might mean? - Voxy, 3 May 2013 Since the release of the NZ Power proposal there has not been a solid, logical debate about what NZ Power might mean, and the current problems inherent in the electricity market say New Zealand Manufacturers and Exporters Association (NZMEA).


The ECB’s statement emphasised the risks surrounding the economic outlook for the Eurozone... - Interest, 3 May 2013 Tweet By Kymberly Martin NZD The NZD/USD has traded a very steady path over the past 24-hours, despite quite a lot of movement in a number of its peers. It trades around 0.8500 this morning. Yesterday’s ANZ commodity price index surged a...


The Japanese Experiment - Project Syndicate, 3 May 2013 Weeks into Japan's paradigm shift in economic policy, optimism that the country may end a quarter-century of economic stagnation is balanced by fears that the authorities' new approach may make things worse. And, while debate naturally focuses on Japan's internal maneuvers, the tipping point may...


'Business upheaval inevitable' as fossil fuel era comes to an end - Voxy, 2 May 2013 The latest report warning that fossil fuel companies are running towards a financial cliff edge has prompted a call to New Zealand businesses to focus on the future and shock proof their business.


Federal Reserve to Continue Stimulus Efforts - New York Times, 2 May 2013 As expected, the Federal Reserve said on Wednesday that it would continue its stimulus campaign at the pace it has maintained since December....


Greens respond to Business New Zealand open letter - Voxy, 2 May 2013 The Green Party will not be withdrawing its popular plan to reduce power prices for Kiwi families and businesses, Green Party Co-leader Metiria Turei said today.


The Opening Bell: Where currencies start for Thursday, May 2, 2013 - Interest, 2 May 2013 Tweet By Dan Bell The NZDUSD opens lower at 0.8495 this morning. More questions are being asked on the strength of global growth after a...


Kiwis continue fickle affair with Australia - BERL, 1 May 2013 Kiwis migrating to Australia have doubled in the last 10 years from 25,000 in 2003, to over 51,000 in the year to March 2013. The love affair with Australia is fickle, and the slightest cloud on the Australian economic horizon causes the number trekking over to thin out.


The Opening Bell: Where currencies start for Wednesday, May 1, 2013 - Interest, 1 May 2013 Tweet By Dan Bell The NZDUSD opens higher at 0.8560 this morning. The USD weakened across the board after data showed US Midwest business...


Risk sensitive currencies back in favour as US$ shunned; NZ$ strongest performer relative to peers - Interest, 30 Apr 2013 Tweet By Kymberly Martin NZD The NZD/USD was the strongest performer relative to its peers over the past 24-hours. It trades at 0.8570. A better mood pervaded markets last night, as the negative impact of Friday’s US GDP report...


The Opening Bell: Where currencies start for Tuesday, April 30, 2013 - Interest, 30 Apr 2013 Tweet By Dan Bell The NZD/USD opens around 0.8550 this morning after trading to a high of 0.8573 overnight. Global stocks have had a...


Tuesday's Top 10 with NZ Mint: How China's subsidies and exchange rate manipulation skew 'free'... - Interest, 29 Apr 2013 Tweet Here's my Top 10 links from around the Internet at 10 am today in association with NZ Mint . As always, we welcome your additions in the...


90 seconds at 9 am: Markets expect ECB cut; Spain, Italy debt at lower yields; Japan QE flood not... - Interest, 26 Apr 2013 Tweet Here's my summary of the key news overnight in 90 seconds at 9 am, including news that the scramble for yield around the...


Quarterly exports to China overtake exports to Australia - Voxy, 26 Apr 2013 China overtook Australia as our top export destination for the first time in the March 2013 quarter, Statistics New Zealand said today.


Bernard Hickey looks at what the RBNZ's statement on the OCR means for interest rates, the... - Interest, 24 Apr 2013 Tweet By Bernard Hickey The Reserve Bank of New Zealand has again held the Official Cash Rate (OCR) at a record-low 2.5% as expected, and has signalled it will leave it there until at least the end of 2013. See more in our earlier news article here....


RBNZ holds Official Cash Rate at 2.5%, as expected; plans to keep OCR unchanged through to end of... - Interest, 24 Apr 2013 Tweet By Bernard Hickey The Reserve Bank of New Zealand has held the Official Cash Rate at its record low 2.5% as anticipated and has repeated its expectation it planned to keep it there through to the end of 2013. But the bank also re-issued...


The Opening Bell: Where currencies start for Wednesday, April 24, 2013 - Interest, 24 Apr 2013 Tweet By Dan Bell The NZDUSD opens at 0.8405 this morning, ahead of the RBNZ cash rate and statement at 9:00am. The NZDUSD traded to a...


Market still rattled from previous Chinese data; downward surprise in Flash PMI today will impact... - Interest, 23 Apr 2013 Tweet By Mike Jones NZD The NZD/USD has spent the past 24 hours consolidating above 0.8400. Currency markets have started the week in a fairly drowsy state. Perhaps investors are fatigued after all the action last week. Equity and risk...


Speculators built up net NZ$ long positions to the highest levels on record last week - Interest, 22 Apr 2013 Tweet By Mike Jones NZD The NZD/USD stood its ground better than most against a firmer USD on Friday night. A sizeable bounce in NZD/JPY certainly helped. Still, this wasn’t enough to prevent a 2% decline in the NZD/USD over the week (0.8590...


The Opening Bell: Where currencies start for Friday, April 19, 2013 - Interest, 19 Apr 2013 Tweet By Dan Bell US data was the main driver in what was a relatively quiet night for currencies, as a rise in the number of Americans...


90 seconds at 9 am: US growth 'moderate'; EU faces decade to recover; concerns about QE... - Interest, 18 Apr 2013 Tweet Here's my summary of the key news overnight in 90 seconds at 9 am, including news world markets are taking a breather. The...


Greening city infrastructure can sustain economic growth - Voxy, 18 Apr 2013 Investing in sustainable infrastructures and resource efficient technologies in cities offers a golden opportunity to deliver economic growth with lower rates of environmental degradation, reductions in poverty, cuts in greenhouse gases, and improved well-being, according to a new report released


Inflation running at bottom of RBNZ target but expected to rise later this year leading to rate... - Interest, 17 Apr 2013 Tweet By Kymberly Martin Despite offshore ructions the previous night, NZ markets traded fairly quietly yesterday. Swap and bond yields closed virtually unchanged. 2-year swap sits at 2.86%. 10-year bond yields sit at 3.29%. Heading into...


Port reclamation key to lifting productivity - Voxy, 15 Apr 2013 "Ports of Auckland's revised proposals to extend Bledisloe wharf between 135m and 179m are key to lifting port productivity, meeting future freight demand and supporting jobs," says Stephen Selwood, Chief Executive of the New Zealand Council for Infrastructure Development.


Currency trends 'threatening for exporters' - Voxy, 12 Apr 2013 This week the New Zealand dollar reached post float highs on the TWI due to strong appreciations against both the Yen and US Dollar. These trends are very threatening for exporters say the New Zealand Manufacturers and Exporters Association (NZMEA).


Reserve Bank appoints Bernard Hodgetts to head the Bank’s new Macro Financial Department - Interest, 12 Apr 2013 Tweet The Reserve Bank has appointed Bernard Hodgetts to head the Bank’s new Macro Financial Department. Deputy Governor and Head of Financial Stability, Grant Spencer, said the creation of the new department reflected the growing emphasis on...


The Opening Bell: Where currencies start for Friday, April 12, 2013 - Interest, 12 Apr 2013 Tweet By Dan Bell The NZD/USD opens around 0.8630 this morning after hitting an interbank high of 0.8675 overnight. The NZD continues to...


Imports into China surged 14.1% year-on-year; surprise US$0.9 bln deficit ignored; implied... - Interest, 11 Apr 2013 Tweet By Mike Jones NZD It’s been onwards and upwards for the NZD over the past 24 hours. In fact, the NZD has been the strongest performing G10 currency. The NZD/USD opens around 0.8575 – the highest since August 2011. The drivers of the...


New business visa to strengthen links with China - Voxy, 11 Apr 2013 A new three-year multiple-entry business visa will strengthen business connections between China and New Zealand, Prime Minister John Key says. Mr Key announced the new visa arrangements in Beijing yesterday, following bilateral talks with new Chinese Premier Li Keqiang.


The Two Innovation Economies - Project Syndicate, 11 Apr 2013 For 250 years, technological innovation has driven economic development. But the economics of innovation are very different for those at the frontier and followers who are striving to catch up.


The Global Growth Quest - Project Syndicate, 10 Apr 2013 The last few years have highlighted the declining potency of long-standing growth models. Moreover, the search for more robust growth models will take much longer and be more complicated than many recognize – especially as the world economy pivots away from unfettered globalization and high...


The Opening Bell: Where currencies start for Wednesday, April 10, 2013 - Interest, 10 Apr 2013 Tweet By Dan Bell The NZDUSD touched a high of 0.8535 overnight, a level last since in September 2011. The NZDJPY continued it stormed...


ANZ NZ Morning Brief - Voxy, 9 Apr 2013 OUTLOOK CURRENCY: NZ Q1 QSBO is likely to be upbeat this morning (10am) especially when compared to the (expected to be) more muted NAB business conditions from Australia. German current account and trade balances should be strong confirming northern Europe’s strength.


Job losses at Sealed Air in Rotorua - Voxy, 9 Apr 2013 Plastic packaging manufacturer Sealed Air has told workers at its Rotorua plant it intends to phase down production and close the plant by mid-2014.


'No problems' getting Manapouri power to Auckland - Voxy, 6 Apr 2013 Transpower says it can easily get Manapouri power to Auckland if the Tiwai Point smelter had to close. Speaking today on TV3’s "The Nation", Transpower’s CEO, Patrick Strange it was to possible to get "anything we like out of the South Island. "


The Promise of Abenomics - Project Syndicate, 6 Apr 2013 Japanese Prime Minister Shinzo Abe is doing what many economists have been calling for in the US and Europe: a comprehensive program entailing monetary, fiscal, and structural policies. As many Japanese rightly sense, Abenomics, with its focus on monetary, fiscal, and structural policies, can...


Weak US jobs growth and worries about Japan's aggressive new monetary policy sees the NZD end the... - Interest, 6 Apr 2013 Tweet The kiwi dollar has ended the week sharply higher and closed with the TWI at a record level. The jump was propelled by two overnight events. Firstly, US non-farm payrolls grew in March by a level below every expert's estimate. The...