NZ dollar rises after Greece backed to keep euro
The New Zealand dollar gained after Italian Prime Minister Mario Monti said Greece will probably keep the euro.
The New Zealand dollar gained after Italian Prime Minister Mario Monti said Greece will probably keep the euro.
Reserve Bank figures show household debt, which is 94 per cent mortgages, is still 141.7 per cent of disposable income.
Westpac, Kiwibank and ASB have all made cuts to some of their mortgage rates today, as the mortgage war heats up.
New Zealanders are saving more than they were less than two years ago but are missing out on deals by not shopping around, says one bank.
BNZ has cut a key mortgage rate this morning, following rate cutting by other banks on Saturday morning.
There's a lot going on in the latest Reserve Bank Financial Stability Report...
Investors played it safe overnight as Greek parties struggled to form a new government and Spain asked its banks to set aside more money to cover bad loans.
The New Zealand dollar fell to a four-month low overnight amid market concern about the election of new governments in France and Greece.
These voter revolts could destroy what had been an article of faith among bond investors: that modern democracies never default on their debts.