NZ dollar slips as investors beef up rate cut expectations

Rebecca Howard
Thu, 07 Nov 2019

The New Zealand dollar fell as expectations increased that the Reserve Bank will move to cut rates next week. The kiwi was trading at 63.47 US cents at 5pm in Wellington versus 63.66 cents at 8am. The trade-weighted index was at 70.02 from 70.17. Market pricing shifted from a 50 percent chance of a rate cut to a 70 percent chance after data yesterday showed the seasonally adjusted unemployment rate rose to 4.2 percent in the three months ended Sep. 30, from 3.9 percent in the June quarter. Since yesterday’s unemployment data “the marke...
Economy
Tourism Holdings shares jump as Waitomo gets govt subsidy
Dan Brunskill | Thu, 04 Jun 2020

Tourism Holdings shares jumped after its Discover Waitomo business was named as one of the first recipients of the government's $400 million tourism support fund. The Waitomo caves operation will r...

Infrastructure
NZOG seeking acquisitions, won't raise capital
Gavin Evans | Thu, 04 Jun 2020

New Zealand Oil & Gas said it is actively seeking acquisitions of a scale that won’t require it to raise additional capital. The firm said its strong balance sheet, and its weighting to gas rather...

Listed Companies
Vista plans to save up to $15m from staff layoffs
Jenny Ruth | Thu, 04 Jun 2020

Vista Group International said it wants to cut annualised costs by between $12 million and $15 million through laying off staff as cinemas - who account for more than 80 percent of its customers - are...

SPONSORED
Telcos in lockdown, and beyond

Geoff Thorn, CEO, NZ Telecommunications Forum says modern connectivity was a major benefit during lockdown, so it’s important to ensure long term sustainability of the networks