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OCR hike not till December, say bank economists
Global turmoil in global markets means the next OCR hike is now likely to be December, not September, say a growing number of bank ecnomists.
ASB Bank profits surge 27pc
Improved economic conditions contributed to ASB Bank recording a 27.6 per cent increase in its net profit after tax to $568 million for the year to June 30, the company said today.
Latest turmoil could hit local bank costs says BNZ
The US and European sovereign debt crises will likely push up the cost of funding for NZ banks, the head of the BNZ says.
Interest rates could spark mortgage war
PricewaterhouseCoopers (PwC) says a mortgage price war could break out among the country's major banks if interest rates rise as predicted over the next couple of years.
Global markets crash exposes Kiwi dollar 'safe haven' myth
This morning's rapid fall in the New Zealand dollar proves recent talk of the kiwi becoming a 'safe haven' currency was hot air, say economists.
Bernard Hickey: 10 things Key and Bollard can do with the dollar
John Key says there's nothing he can do about the high currency. He means there's nothing he wants to do about the high currency.
High dollar tough, says Key, but intervention won't work
Prime Minister John Key has acknowledged the high currency is tough for exporters, but said intervention by the Reserve Bank was unlikely to be successful.
All systems are go for high-tech exec
ASB Bank's new chief executive is something of a Thunderbirds fan, finds Jamie Gray.
OCR to rise as soon as September
Reserve Bank Governor Alan Bollard may hike the official cash rate by 50 basis points as soon as September, though any future hikes will be held back by a surging kiwi dollar.
Bernard Hickey: 'I'll let you do the dirty work'
It's official. We now know that John Key and Alan Bollard secretly love our high dollar.
Bollard keeps rate at 2.5 per cent
The official cash rate has been held 2.5 per cent, as expected. Alan Bollard said the strength of the New Zealand dollar may limit the need for future rate hikes in the short term.