Equities on Wall Street began the final five-day trading week of the year on a positive note amid takeover news and optimism about the global economy.

Reserve Bank Governor Alan Bollard isn't expected to start hiking interest rates again until the middle of next year after he held the official cash rate at 3 per cent today.

I worry that the banks are trying to unleash those animal spirits in the housing markets again.

The Reserve Bank has left the Official Cash Rate on hold at 3 per cent. In his Monetary Policy Statement, Governor Alan Bollard said the pace of economic growth 'appears to have moderated'.

The Commerce Commission says it's investigating the sale of "Credit Sails" bonds, which crashed during the global financial crisis.

The Reserve Bank of New Zealand is pressing for the power of veto over significant purchases by the country's banks.

The Belgian Finance Minister has hinted that the €750 billion ($1.3 trillion) EU bailout fund could be increased, in a further sign of the confusion and discord over the best way to tackle the Eurozone debt crisis.

The financial market now expects the Reserve Bank will not increase the OCR from 3 to 3.25 per cent until June next year.