This morning's rapid fall in the New Zealand dollar proves recent talk of the kiwi becoming a 'safe haven' currency was hot air, say economists.

The New Zealand dollar fell below 87 US cents on the back of weaker equity markets as investors refocused their attention on the stumbling US economy and Europe's sovereign debt crisis.

New Zealand commodity prices were stable last month, with weakness in logs and dairy products, while kiwifruit prices rose, according to the latest ANZ Commodity Price Index.

Reaction from economists to today's Reserve Bank decision to keep the OCR at a record low of 2.5 per cent.

Big banks shout Treasury staff to meals and events with 'disturbing frequency'.

GDP growth twice as strong as forecasters picked despite earthquake

Director of ANZ-owned fund manager says rival plans involve cost and risk.

Weak credit demand could curtail earnings growth for the big New Zealand banks, says credit rating agency Standard and Poor's.