Kiwibank has joined ANZ, Westpac and TSB today, moving to increase floating mortgage rates and cut longer term fixed rates.

Alllied Nationwide Finance had a debenture reinvestment rate of 29.3pc in May.

The New Zealand dollar rose against a greenback hit by poor US jobs data, but eased against the euro and yen.

New Zealand's service sector showed signs of growth last month, but some areas of the sector still face difficult times.

NZers will look back on the winter of 2010 as the moment we finally realised the last decade of growth was a sham.

Global recession hit hard, but it hasn't killed off New Zealand manufacturing. Suzanne McFadden went looking for signs of life.

Kiwibank, which led its rivals in cutting two-year fixed home loan rates last week, has now followed them by reducing its three, four and five year rates.

All the major trading banks have now lifted their mortgage rates, with BNZ becoming the last to move following the recent OCR hike.