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ANZ reveal record $1b profit
ANZ Bank has reported a 25 per cent rise in annual profit in New Zealand, beating the $1 billion barrier with the help of a 59 per cent fall in bad debts.
Westpac posts 41pc rise in cash earnings
Westpac New Zealand has posted a 41 per cent rise in annual cash earnings after a big drop in impairment charges as rise in income as net interest margins rose.
Wages up, but private sector lags
Wage increases accelerated in the last quarter, but is still soft enough to keep the Reserve Bank from hiking interest rates anytime soon. The labour cost index rose 0.6 percent in the last...
Building consents sink in September as growth stalls
New Zealand building consents stalled in September with its first monthly decline in five eroding gains over the past two months.
World shares soar on Euro bank deal success
Shares soared in Europe overnight and are well up on Wall St after European leaders agreed on a Greek debt deal.
OCR: rates left on hold at 2.5pc
The Reserve Bank has this morning left the Official Cash Rate unchanged at a record low 2.5 per cent. The move was widely anticipated, with this week's inflation numbers coming in lower than predicted.
CPI comes in lower than expected - inflation up 0.4pc
The chances of any official cash rate increase from the Reserve Bank have dropped, with the latest inflation figures coming in lower than expected. The CPI was up 0.4 per cent in the last quarter, taking annual inflation to 4.6pc.
Bollard warns against quake 'over regulation'
New Zealand needs to avoid a costly regulatory over-reaction to the Christchurch earthquakes, says Reserve Bank Governor Alan Bollard.
Banking on more world market uncertainty
Anyone hoping for a weekend fix to the global banking sector will have to wait a little longer - perhaps a lot longer.