The boss of state-owned Kiwibank wants people to be compelled to join KiwiSaver, with individual contributions rising gradually over the next decade or two to reach 10 per cent of income.

House prices will fall gently for the next two years before levelling out, says a leading bank economist.

Kiwibank has launched its own KiwiSaver scheme, promising better disclosure of fees and more direct control by investors.

Equities slid overnight amid further signs of economic weakness in China, Europe and the US.

The kiwi dollar extended its decline to a three-week low as fears over America's recovery sapped investors' appetite for riskier assets.

In a new statement of intent, the Reserve Bank says it is looking at new tools to support the traditional Official Cash Rate.

Phil Goff says the Labour Party would require the Reserve Bank to pursue broader objectives.