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.

Is this the bitter end of the famous frozen funds fracas?

Investors who felt misled by ANZ and ING over two funds have won a record payout of $45m in a Commerce Commission brokered, out-of-court settlement.

The Commerce Commission has reached a record $45 million settlement with ANZ over the promotion of ING's diversified yield and regular income funds.

The Commerce Commission has reached a record $45 million settlement with ANZ New Zealand over the promotion of ING's diversified yield and regular income funds.

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

Hubbard is defending his actions, while one investor says he had been told he was investing in a "trust fund".