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Risk trade unwinds as Wall St falls
Disappointing US economic data prompted a selloff in oil overnight, which dropped more than 8 per cent. Stocks on Wall Street fell, with losses accelerating towards the close.
ANZ says it is adequately provisioned for Chch earthquake
New Zealand's biggest bank, ANZ, says it has adequate provisions for the impact of the Christchurch earthquake.
Floating mortgages now over 50pc of all NZ home loans
More than half of New Zealand's $168.2b of mortgages are now on floating rates, says the Reserve Bank.
<i>Brian Fallow :</i> A more cheerful tone from Reserve Bank
As the markets try to divine how long "some time" is, the nuances of the statement are relatively upbeat.
Bollard holds OCR steady at 2.5pc
Reserve Bank governor Alan Bollard has held interest rates steady at 2.5pc and says there's no need to raise them any time soon.
<i>NZ currency:</i> Dollar hovers around US80c
The New Zealand dollar finished the day still fluctuating around the US80c level at which it opened at the end of the Easter break.
<i>Inside Money :</i> What to read on a non-bank holiday
New standards will force non-banks to clearly identify and quantify the kinds of risks they're taking with your money.
New signs of 'two speed' property market - report
A new affordability report shows lower interest rates and house prices made it easier for first-home buyers to get into the market.