New Zealand Rate Rise Shocks Investors
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Central bank battles inflation the only way it can.
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Japanese stocks were hit badly on Friday morning by fears of rising global interest rates following sharp overnight increases in US and European bond yields.
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The dollar pushed higher against the pound, with many investors sidelined ahead of a US interest rate decision by the Federal Open Market Committee (FOMC).
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WELLINGTON (Dow Jones)--Air New Zealand Ltd. (AIR.NZ) said Wednesday it expects to post a slight drop in profit in the current financial year, and that it hopes to raise NZ$186 million in a rights issue next month to fund investment in new aircraft.
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US mutual fund investors could be hit with a record $350bn capital gains tax bill because their funds took big profits from rising stock markets last year.
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TORONTO (CP) - Early indicators were mixed for North American stock markets Monday as investors weighed the impact of an expected US interest rate hike and a $10.3-billion-US merger in the technology sector.
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Consumers are feeling the pinch after five interest rate rises in less than a year, with a slowdown in the rampant housing market, ebbing consumer morale and a drop in retail sales, data show.
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What&#39;s up with the bond market? As the Federal Reserve has steadily increased short-term interest rates over the past few months, investors in the bond-trading pits have pushed long-term yields down.
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Talk about bad timing. SOHU&#39;s (Nasdaq: SOHU) earnings release yesterday came on the heels of news that the Chinese central bank increased interest rates.
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Property stocks came under pressure on Friday after a leading broker warned clients that now was not the time to venture back into the sector.
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between results and annual meetings - the NZX is keeping investors interested with a small flurry of listings over the week ahead.
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Canadian bonds rose and the dollar dropped after the government said so-called core inflation unexpectedly fell in August. The figures suggested policy makers may lift their key interest rate less than predicted this year.
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Rising interest rates hurt the value of hedges it holds to protect profits on its mortgage portfolio.
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The New Zealand dollar has hit its highest level this year, propelled by a dramatic dip in the US dollar. As the greenback slumped against most global currencies, the kiwi rose to 71.02USc, its highest level for eight years.
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The cash rate in New Zealand now sits at 6.5 per cent after Reserve Bank of New Zealand (RBNZ) again raised interest rates by 25 basis points, the sixth such increase since January 2004.
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Stocks fell sharply on Wednesday after data showing higher-than-expected labor costs fueled concern that inflation and rising interest rates will harm corporate earnings.
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New Zealand has revised its growth forecasts upwards as reports out showed the economy was withstanding the current downturn better than expected.