Worrying stat comes as ANZ says it'll keep paying into its staff members' KiwiSaver accounts who go on parental leave.

The dollar has rallied after what the markets perceived as a more optimistic view of the economy from Reserve Bank Governor Graeme Wheeler.

The dollar rose on speculation Wheeler may soften his language about an easing bias, and after stocks rebounded.

Just one year ago, it seemed unthinkable that officials in Wellington and Sydney, more typically known for their hawkishness and stubborn independence, would join the global race towards zero.

The kiwi dollar has risen to a six-and-a-half week high against the Aussie after a slump in Chinese equities markets.

It's a 60-year low as banks vie to undercut each other.

Union chief says he received a tip that hundreds of Westpac staff face losing their jobs.

The dollar fell after signs of weaker Chinese manufacturing activity dented demand for commodity currencies.

The New Zealand dollar has fallen ahead of the Reserve Bank's expected interest rate cut this morning.

BNZ has lowered its 2015/16 milk price forecast for Fonterra but says it expects dairy prices to recover late this year.

Disruption is not something the Co-Operative Bank or BNZ have actively sought, they say, but was rather a by-product of striving for improvement.

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The dollar advanced as traders who had bet on the currency's decline took profits ahead of the tomorrow's interest rate decision.

The banks has been named bank of the year for everyday banking by consumer organisation Canstar.

An Auckland real estate agent says "some groups of buyers" are trying to beat the Government's new restrictions on foreign property purchases due in October.

The NZ dollar has been trading around 65 US cents, which the Prime Minister has previously called the "Goldilocks" level.

Banks create the money they lend out of nothing and can charge interest on the new money for as long as it exists in the form of a debt owed to them, writes Bryan Gould. "The affordability crisis will go on getting worse."

The dollar has since consolidated after a slump in dairy prices and benign inflation stoked expectations of interest rate cuts.

Former Commonwealth Bank worker Jon Waldron allegedly received over $2 million for awarding contracts to a US firm.

The dollar plummeted after whole milk powder fell more than expected in the GlobalDairyTrade auction overnight.

The dollar gained as an unexpected decline in US retail sales raised speculation of a delayed increase in US interest rates.

Things are still looking healthy for New Zealand's banks, despite a fall in lending margins at the start of this year.

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The NZ dollar weakened as Greek agreement turned investor attention to US interest rate hikes, supporting greenback.

The lower kiwi will benefit exporters such as Delegat which counts the US as its largest market.

The dollar weakened as Eurozone leaders stepped up their demands for Greece reforms at meetings over the weekend.

The dollar was little changed as risk sentiment improved following a bounce in Chinese equities and new Greece proposals.

The economy has started to slow, with confidence declining as dairy prices remain lower for longer.