NZ manufacturing activity picked up in August, extending the period of expansion to two years, and pointing to more industrial production.

Two of New Zealand's largest banks will this week be served court papers over claims they charged more than 41,600 customers unfair penalty fees.

Westpac New Zealand says it is gearing up to release a world first banking app that will allow customers to view their account details in 3D.

Outgoing BNZ boss Andrew Thorburn won't be cutting all his ties with New Zealand when he crosses the Tasman to start a new role as chief executive of parent company National Australia Bank in August.

When it releases its monetary policy statement on Thursday the Reserve Bank is expected to turn up the volume on its warning that it is preparing to remove the support of ultra-low interest rates in place since the recession.

The banking ombudsman has had 10 complaints about the loan-to-value-ratio (LVR) changes introduced on October 1, with eight related to banks withdrawing prior approvals.

The number of first home buyers in the market since the introduction of new Reserve Bank mortgage restrictions last month has plummeted, real estate agents are reporting.

The kiwi is expected to appreciate further against the Australian after the cross rate hit a near five-year high this week.