Reserve Bank of New Zealand Governor Adrian Orr said on Thursday that New Zealand was now in an environment of low and stable inflation but warned the volatile international landscape could impact New Zealand's economy.

The world’s fourth-largest iron ore producer said its first-half net profit more than halved on lower prices for the steelmaking commodity.

China's struggling property sector continues to weigh on big miners, with Fortescue profits down more than 50 per cent.