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March 27, 2017

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Business > Asia > New Zealand
The New Zealand dollar sank Monday after the central bank disclosed it conducted its biggest sell-off of the currency in seven years to lower an exchange rate that is squeezing exporters.
 
Building work in quake-damaged Christchurch helped drive New Zealand's economy to its fastest rate of growth in more than six years, according to figures released Thursday.
 
New Zealand Thursday delivered its first budget surplus in six years, producing a family-friendly document ahead of a general election later this year.
 
New Zealand's central bank lifted interest rates for the second time in as many months on Thursday, saying it was necessary to contain inflation as an economic recovery gains momentum.
 
New Zealand's economy expanded 0.9 percent quarter-on-quarter in October-December 2013, taking annual growth to 2.7 percent, official data showed Thursday.
 
New Zealand on Thursday became the first advanced economy to raise interest rates since 2012, ending a three-year freeze imposed after the devastating Christchurch earthquake.
 
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