Don't expect dairy farmers to be hitting the tractor stores or real estate offices anytime soon, despite the upgrade in their payout.

For the first time in over a year economic growth prospects have been revised upwards, an economic think-tank says.

The New Zealand dollar may be capped under US70 cents this week ahead of the central bank's monetary policy statement.

Robust bidding in Fonterra's monthly online auction of whole milkpowder early today lifted the average price paid by 24.2 per cent to US$2858/tonne.

The development of the world's first global dairy futures market could cement New Zealand's position as an industry leader, says the NZX.

The New Zealand dollar may keep rising this week after good jobs data from the US boosted confidence that the world's largest economy is recovering.