Latest Finance Headlines

Investors Displeased by Central Banks

Sat, 23 Jul 2016 12:10:58 +1200 | ThinkMarkets

It was a very disappointing day for investors as nothing came good out of the ECB meeting and on the earnings front, there were no upbeat news either. Investors saw that the central banks are keeping the markets happy by only talking but no reaction ...More >>

China Construction provides $140M cash infusion for NZ unit

Fri, 22 Jul 2016 16:27:32 +1200 | BusinessDesk

July 22 (BusinessDesk) - China Construction Bank, that nation's second-largest lender, has provided $140 million of equity capital to its New Zealand subsidiary to help fund lending growth, the biggest such infusion since the local unit was established ...More >>

Equity no longer a sure thing when it comes to finance

Fri, 22 Jul 2016 13:10:26 +1200 | LoanPlan Mortgages and Finance

New Zealanders continue to top up their mortgages at a steady clip, but more and more home owners are discovering that the equity in their homes is no longer enough for bank approval – even if they want to use the money to add value to their property. ...More >>

HiFX Morning Update, July 22 2016

Fri, 22 Jul 2016 08:49:04 +1200 | HiFX

The NZDUSD opens at 0.6996 (mid-rate) this morning. The NZD lost ground against all of its major competitors overnight, particularly the JPY as it was bought as a safe haven, as U.S. equity markets fell.More >>

New Zealand payment times remain low

Thu, 21 Jul 2016 17:27:26 +1200 | Dun and Bradstreet

New Zealand invoice payment times have maintained their record-low momentum, averaging approximately 35 days for the last four quarters, despite increasing slightly over the second quarter of 2016. According to Dun & Bradstreet’s Trade Payments ...More >>

All five leading retail banks require 40% property deposit

Thu, 21 Jul 2016 17:04:30 +1200 | BusinessDesk

July 21 (BusinessDesk) - All five of the country's leading retail banks have acted early to introduce restrictions on lending to property investors as part of the Reserve Bank's bid to slow the heated housing market.More >>

Banks bust a move, Government possum in the headlights

Thu, 21 Jul 2016 13:10:26 +1200 | New Zealand Labour Party

Three of the big four banks have acted responsibly by bringing the shutters down on property speculators earlier than required by the Reserve Bank, says Labour’s housing spokesperson Phil Twyford.More >>

Blundering On

Thu, 21 Jul 2016 13:06:42 +1200 | New Zealand First Party

Anyone who has not been in outer space over recent months has seen momentous and unpredictable events unfolding. Brexit and multiple uncertainties and risks in the global economy have created a sombre outlook. Globally, economic growth is faltering.More >>

Three major bank lenders introduce lending restrictions

Thu, 21 Jul 2016 11:54:18 +1200 | BusinessDesk

July 21 (BusinessDesk) - ASB Bank and ANZ Bank New Zealand have followed Westpac Banking Corp's lead in clamping down on lending to property investors by requiring at least a 40 percent deposit ahead of Reserve Bank restrictions.More >>

2 Cheap Cars secures finance to aid expansion

Thu, 21 Jul 2016 11:28:18 +1200 | 2 Cheap Cars

New Zealand’s largest second-hand car retailer 2 Cheap Cars has secured a major trade finance arrangement with ASB Bank. More >>

ANZ joins Westpac in restricting loans early

Thu, 21 Jul 2016 11:18:54 +1200 | BusinessDesk

July 21 (BusinessDesk) - ANZ Bank New Zealand is the second bank to announce it will not take any new loan applications from property investors who do not have a 40 percent deposit, some six weeks earlier than required by the Reserve BankMore >>

RBNZ's 'clear' message gets traction in pushing down kiwi

Thu, 21 Jul 2016 11:16:41 +1200 | BusinessDesk

July 21 (BusinessDesk) - The Reserve Bank's "clear" message that interest rates are set to plumb a new record-low achieved got the desired effect in pushing the kiwi dollar to a month-low.More >>

RBNZ says rate cut seems likely

Thu, 21 Jul 2016 09:26:24 +1200 | BusinessDesk

July 21 (BusinessDesk) - The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell.More >>

HiFX Morning Update, July 21 2016

Thu, 21 Jul 2016 09:00:46 +1200 | HiFX

The NZDUSD opens at 0.7024 (mid-rate) this morning. The NZD had a quiet night while still projecting a negative tone for the week, and still managed to trade a 50 point range.More >>

NZ dollar edges up from lows as August rate cut priced in

Wed, 20 Jul 2016 17:22:03 +1200 | BusinessDesk

NZ dollar edges up from lows ahead of RBNZ update as August rate cut priced in More >>

ANZ boss warns on property market

Wed, 20 Jul 2016 17:13:52 +1200 | BusinessDesk

July 20 (BusinessDesk) - ANZ Bank New Zealand chief executive David Hisco, who head's up New Zealand's biggest lender, has warned property prices in Auckland are overcooked and the ending of the property boom will be "messy". More >>

New home deposit rules could turn off 22% of investors

Wed, 20 Jul 2016 16:45:34 +1200 | Horizon Research Limited

The Reserve Bank’s move to increase the deposit needed for investors to buy a home above 30% will have a significant impact on the market. More >>

Westpac imposing RBNZ's new home lending rules from today

Wed, 20 Jul 2016 16:24:23 +1200 | BusinessDesk

July 20 (BusinessDesk) - Westpac Banking Corp has announced it will not take any new loan applications from property investors who do not have a 40 percent deposit from 4.30pm this afternoon, some six weeks earlier than required by the Reserve Bank.More >>

LVR restrictions for investors

Wed, 20 Jul 2016 13:46:04 +1200 | Harcourts

The Reserve Bank’s decision to raise LVR restrictions to 40% for investors will not stop Auckland and Christchurch’s spiralling house prices. More >>

Reserve Bank restrictions hurt tenants and small investors

Wed, 20 Jul 2016 13:07:03 +1200 | NZ Property Investors' Federation

One of the Reserve Bank's tasks is to keep inflation between 1% and 3%. It appears that the purpose of the LVR tightening is to allow the Reserve Bank to lower interest rates, thereby stimulating the economy and lowering the NZ dollar.More >>

 

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