In the first three months of the year the core inflation in Australia have probably eased further but most economists say that it will not be sufficient to power a cut in the cash rate.

According to them, the focus of the Reserve Bank of Australia on the boosting the labor market and spurring business confidence and growth means, the financial agency will look through softer consumer price data as it is expected to be published in this week on Wednesday.

According to the latest data released, the New Zealand dollar rose above 70 US cents for the first time in around ten months amid speculation that the Federal Reserve might not raise interest rates and the Reserve Bank will not reduce its benchmark rate.

The New Zealand dollar rose to as high as 70.02 US cents and traded at 69.97 cents this evening in on from 69.21 cents yesterday. The trade-weighted index reached 73.50, which is the level recorded on 26 February, compared to 73.06 yesterday.

Inflation increased a little in the quarter that ended in March as cheaper fuel prices were balanced with higher cigarette prices.

In the first quarter of the year, the Consumers Price Index increased 0.2 percent overturning the decline of the earlier quarter's 0.5 percent.

The total number of tourists visiting Wellington through cruise ships has recorded an increase of 15 per cent giving a boost to the local economy.

The representatives of the Group of 20 largest economies in the world have indicated that they will take strict actions against nations that act as tax heavens and fail to comply with the standards of the global financial system.

In March, the jobless rate in Hawaii continued at 3.1 percent although a greater number of people joined the workforce in the state.

The nonfarm jobs In March grew by 4,400 to 653,000 in total in comparison to February's 648,600. When compared to last year, same time it scaled by 18,600, or 2.9 percent showed a data released by the state's Department of Labor and Industrial Relations.