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May, 6, 2016

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Business > Asia > New Zealand
New Zealand's economic growth reached a four-year high in 2012, the best since the country went through a recession that it has long struggled to shake off, official data showed Thursday.
 
New Zealand's central bank left interest rates at a record low of 2.5 percent on Thursday and predicted they would remain there for the rest of the year.
 
The New Zealand dollar is significantly overvalued compared with its economic fundamentals, but there are no quick means to bringing it down, including intervention, the central bank governor said on Wednesday, skittling the currency by nearly half a cent.
 
New Zealand announced plans Tuesday to force tobacco companies to sell cigarettes in plain packaging, becoming only the second country in the world after Australia to introduce the measure.
 
New Zealand's Fonterra, the world's largest dairy exporter, said Monday that its milk was "100-percent" safe to drink despite tests finding trace elements of an agricultural chemical in milk powder.
 
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