NZ new car sales plummet in November to 5 1/2 year low
TweetNew passenger and commercial vehicle sales fell to a 5 year low of 6,537 in November from 9,340 in October as car lending and consumer demand dried up, figures from Land Transport NZ and the Motor...
View ArticleVideo: Dairy bubble bursts
Tweet Dairy product prices have halved from peaks back to 2005/2006 levels. Payout close to NZ$5/kg but banks still lending with growth over 20%.
View ArticleWestpac agrees to "inefficient" changes to NZ operating model
TweetBy Gareth VaughanWestpac has struck a deal with the Reserve Bank to shift institutional and corporate business currently undertaken in New Zealand through its Australian parent to its locally...
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Bernanke sees "unusually uncertain" outlook, global banking activity picks...
Tweet Gareth Vaughan, sitting in for Bernard Hickey, details the key news overnight in 90 seconds at 9 am in association with BNZ.US Federal Reserve chairman Ben Bernanke says the economic outlook...
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Lowest monthly growth in housing lending for at least 12 years
Tweet Housing lending almost ground to a halt in June, recording its lowest monthly increase since the Reserve Bank started recording the data 12 years ago. Lending for housing rose just NZ$112 million...
View ArticleDorchester appoints ex Lumley exec Greg Main as General Manager, Insurance...
Tweet Finance company and insurer Dorchester Pacific has announced the appointment of Greg Main, previously with Lumley General Insurance, to the role of General Manager, Insurance and Lending. “Greg...
View ArticleMore information including drivers licence numbers to be used in credit...
Tweet New Zealand's Privacy Commissioner has changed credit reporting rules, meaning more information can be included in credit reports about credit accounts such as limits and types of accounts....
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Govt may cover 15%-25% of losses from leaky home loan defaults, Bankers...
TweetBy Alex Tarrant The government may cover between 15% and 25% of any shortfalls from defaulted bank loans given for the repair of leaky homes under a financial assistance package, with banks then...
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Farm sales stay low in Feb, but banks appear to be regaining confidence in...
Tweet There is ancedotal evidence banks are starting to have greater confidence in the rural sector, although there are still constraints on farm buyers looking to secure finance, the Real Estate...
View ArticleEmbattled agricultural services company Allied Farmers says $500,000 hit...
TweetEmbattled agricultural services company Allied Farmers (ALF) might be forced into default on its lending facilities after being hit by a statutory demand for repayment of a $500,000...
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Rural Environmental Compliance Loan provides 'low cost' funding option to...
TweetASB has launched what it says is New Zealand’s first "rural environmental compliance loan", which it is targeting as a "low cost funding option to assist farmers to get the balance right between...
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Registrar of Companies looking into Mainzeal and other Richard Yan-related...
TweetInquiries are being made by the Registrar of Companies into collapsed Mainzeal Property and Construction and other companies linked to entrepreneur Richard Yan.The news comes as accounting firm...
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Latest home loan rate reductions bring BNZ into line with other major banks;...
TweetBNZ has reduced its fixed mortgage rates this morning by 10 bps and 20 bps for terms of three, four and five years, according to data released on its website.These changes bring BNZ rates for...
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Latest figures show agricultural lending hits a new high, while household...
TweetThe strongest levels of year-on-year lending for three years saw the country’s total agricultural sector borrowing hit the NZ$50 billion mark for the first time ever in February.The latest Reserve...
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The Reserve Bank continues to feel the squeeze between the opposing pressures...
TweetAll eyes will be on the Reserve Bank's perilous juggling act with the twin opposing threats of a high dollar and a heating domestic housing market when the central bank makes its latest judgement...
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Latest credit statistics show that New Zealanders are increasing their levels...
TweetThe rising house market is encouraging Kiwis to take on more debt again at levels that would have the Reserve Bank watching closely, though not yet with extreme concern.The monthly credit figures...
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Kiwibank drops 2-year mortgage rate by 26 basis points to 4.99%
TweetKiwibank has introduced a new 4.99% mortgage rate for two year terms, which is a reduction on its previous rate of 26 basis points.The bank said that its new rate matched the rate previously...
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ANZ drops 1-year mortgage rate by 24 basis points to 4.95% as part of new...
TweetANZ New Zealand is offering a one-year fixed-term "special" home loan rate of 4.95% as it touts its "best ever" home loan offer.The bank's 4.95% offer, compared with its standard 5.25% one-year...
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Latest RBNZ credit statistics show that the rate of borrowing by New...
TweetThe borrowing rates of Kiwis are continuing to increase, with the annual rate of growth in mortgage lending now at its highest level since November 2008.New Zealanders owed NZ$181.37 billion on...
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Latest RBNZ credit statistics show that the rate of borrowing by New...
Short headline: Kiwis' debt surging TweetThe borrowing rates of Kiwis are continuing to increase, with the annual rate of growth in houshold lending now at its highest level since October 2008.Total...
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