New Zealand gained a seasonally adjusted net 2,100 migrants last month, as fewer Kiwis cross the Tasman.

The New Zealand sharemarket rallied by more than 1 per cent yesterday after US Federal Reserve chairman Ben Bernanke said he would maintain the country's stimulus programme.

Banks have already started tightening up their lending criteria for customers seeking low-deposit mortgages, despite new regulations not kicking in until next month.

The economy grew faster than expected in the second three months of the year, as engineering and architecture expansion offset drought impacts.

When Lehman Brothers collapsed and the United States' financial system went from unstable to critical, New Zealand was already in recession.

There's been a big jump in the number of younger people trying to get mortgages ahead of new Reserve Bank low-deposit lending rules, says credit agency Veda.

The case for higher interest rates gained more weight today after subtle shifts in the Reserve Bank's language were interpreted as being more hawkish.

Is the pressure easing on the Auckland housing market? One economist thinks so, after the latest stats showed a largely flat property market.

Export commodity prices rose 0.7 per cent last month in both world price and New Zealand dollar terms.

The Reserve Bank of Australia is likely to keep the cash rate on hold this week as it awaits the outcome of the federal election and allows the August rate cut to work.