Bloomberg New Zealand’s dollar surged to the highest level since May 2015 after traders deemed the central bank’s decision to cut borrowing costs was insufficiently dovish amid the global ardor for yield that’s been spurred by unprecedented global monetary easing. The Aussie and kiwi dollars have gained at least 0.5 percent this month as their central banks reduced benchmark …

  Mumbai / Bloomberg Bank of Baroda, India’s second largest state-run lender by assets, fell the most in almost three months after surging bad-loan provisions dragged first-quarter profit lower. Shares of Baroda fell 8.3 percent, the biggest intraday drop since May 16, to 147.15 rupees as of 12:20 p.m. local time. The stock has lost 6 percent this year, compared …

  Bloomberg South Korea’s central bank held its key interest rate at a record low as board members deferred further policy action until they have a clearer picture of the economy’s path. The decision to keep the seven-day repurchase rate at 1.25 percent was forecast by all 19 economists surveyed by Bloomberg. All seven board members agreed on the decision, …