The Reserve Bank yesterday confirmed it has agreed to re-examine its new mortgage lending restrictions if data shows they are crimping the supply of new homes.

Treasury suggested introducing a capital gains tax and restrictions on foreign buyers as part of a long term prescription to curb house price increases, documents released today show.

The New Zealand dollar was the worst performing currency overnight, as investors switched to so-called 'safe haven' assets.

New Zealand had its highest net gain of migrants in more than 10 years last month, as even fewer Kiwis left for Australia.

The US Senate has passed legislation to avoid a threatened national default and end the 16-day partial government shutdown along the strict terms set by US President Barack Obama.

Time growing desperately short, US Senate leaders took command of efforts to avert a Treasury default and end the partial government shutdown after a last big attempt by House Republicans abruptly collapsed.

Brinkmanship in the US threatens the business and consumer confidence on which its economic recovery depends, says AMP chief economist Bevan Graham.

In a speech to the Property Council this morning the Reserve Bank's deputy governor has gone on a charm offensive over its LVR restrictions.