New Zealand's services sector slowed its expansion last month.

Lingering concerns around the prospect of a European debt crisis will weigh on the kiwi dollar, with the currency expected to continue trading in its recent range this week.

A survey showing high levels of customer dissatisfaction with Australian-owned banks is a wake up call to the industry, says Finsec.

The kiwi dollar has surged in value after a stunningly low unemployment stat and a speech by Alan Bollard.

NZ banks granted 4438 home loans in the first quarter of this year, a 30 per cent drop on the same time last year.

The BNZ is sounding a cautious note on the state of the economy, saying there are still risks despite signs of a recovery.

Some extra weakness is showing up in the residential real estate and investment market, the latest BNZ confidence survey has found.