The official cash rate is useless and policy is needed to focus on the importance of trade rather than the financial market, an inquiry was told today.

Bank of New Zealand has reported a $183 million bottom line loss in the nine months to June 30.

Rising unemployment means Kiwis won't feel like the recession is ending, despite data suggesting otherwise, economists say.

As the property market shows signs of rejuvenation, banks are loosening the purse strings.

The Government yesterday extended the retail deposit guarantee a further year.