N.Z. Economy Grew 0.8% in First Quarter; Currency Soars

N.Z. Economy Grew 0.8% in First Quarter; Currency Soars

Mark Coote/Bloomberg

A pedestrian walks past a sale sign at Cuba Mall in downtown Wellington, New Zealand. New Zealand’s dollar rose to the highest since exchange-rate controls were removed in 1985 as the GDP report and a recovery in business confidence added to signs the central bank may raise its benchmark rate from a record-low 2.5 percent as early as the fourth quarter.