China's central bank said its surprise move to cut interest rates for the first time since 2012 is designed to help small firms.

New Zealand's annual migration rose to a fresh record for the third consecutive month in October, led by an increase in student arrivals from India.

Finance Minister Bill English has warned that returning to surplus this year will be a challenge due to falling dairy prices and low inflation.

The NZ dollar held near a seven-year high against the yen before services sector and retail sales figures that are expected to show the domestic economy continues to grow apace.

The Reserve Bank is eyeing measures to discourage speculators from buying multiple houses as it acknowledges its loan-to-value ratio (LVR) restrictions have favoured investors.

The Reserve Bank is eyeing measures to discourage speculators from buying multiple houses - acknowledging LVR restrictions have favoured investors.

At least 4500 kiwis hoping for an end to mortgage restrictions will have to wait longer before they can buy a place, a financier has calculated.

First-home buyers took out only 10 per cent by value of mortgages given by New Zealand banks in September.

Homeowners feeling flush after learning their newly-released property values are borrowing more from banks to splurge on new cars, boats and home renovations.

Wall Street climbed, with the Dow and the S&P 500 touching record highs, amid optimism about the outlook for corporate profits.

Loan to value ratios on bank mortgage lending could be in for a change this week when the Reserve Bank releases its financial stability report.