Economics News

New Zealand recorded a bigger than expected trade surplus in March, as export fell less than forecast.  According to Statistics New Zealand the trade surplus was NZ$631m in March, bigger than the forecasted NZ$341m and the February surplus of NZ$83m.  Excluding the re-export of a drilling platform to Singapore, last month’s trade surplus was NZ$432m.

Change to use-of-money interest rates

Use-of-money interest rates on underpayments and overpayments of tax will change on 8 May 2015.  The new rates are:

·         Underpayment rate 9.21% (up from 8.40%)