Reserve Bank: OCR cut to 3.25pc

The Reserve Bank has this morning cut the benchmark rate a quarter-point and signalled more may be on the way as the dairy sector's weak outlook weighed on the nation's terms of trade and threatened to delay an increase in inflation from its near-zero level. The New Zealand dollar dropped almost a cent.

Latest Video

Gold in the hills
New Zealand

Gold in the hills

A fight over mining under conservation land is heating up in the Coromandel between Oceania Gold and Martin Donoghue who leading a cohort of musicians into the fray.