Higher fuel prices are likely to mean lower profit margins and lower real wages.

BNZ and Kiwibank have joined the other banks and cut mortgage rates.

The receivers of Equitable Mortgages say it's too soon to say how much of the property lender's $188.4m worth of loans they are likely to recover.

Lending to customers at New Zealand's banks grew by a meagre 0.7 per cent in the second half of their financial year, a new report shows.

In a potential blow for the 9,000 investors in failed property financier St Laurence, Bluestone has withdrawn from talks to buy two contracts to manage Irongate Property from the receiver Deloitte.

Think it's all good down on the farm? Think again. Property values are plunging, and the crisis could yet hit the cities too, reports Karyn Scherer.