New Zealand names Rodger Finlay as new central bank chair

New Zealand's business confidence surged in November, reaching its highest level in a decade, indicating a robust outlook for the country's economic environment. This positive sentiment reflects optimism among businesses regarding future growth and investment opportunities.

The Reserve Bank of New Zealand has further reduced interest rates in an attempt to stimulate economic recovery, as the country grapples with its highest unemployment rate in nearly a decade. This decision reflects ongoing concerns about the sluggish state of the economy, which has prompted the central bank to take aggressive monetary policy actions.

The Labor Department reported that higher food and energy costs contributed to an increase in wholesale prices in September, marking a significant data point for inflation ahead of the central bank's December meeting. This delayed data will be crucial for policymakers as they assess economic conditions.

The Korean won has fallen to its weakest level since April, nearing a critical threshold as local funds increase overseas investments, creating pressure on the currency ahead of the central bank's policy decision this week.