Here are the key things you need to know before you leave work today.
WESTPAC CUTS MORTGAGE RATE
Westpac has cut its 3 year home loan rate by 26 bps, and raised its one year rate by 10 bps.
HOUSE PRICES FALL
The latest REINZ data for January is out and the housing market is taking a breather - perhaps a 'normal' January breather.
FOOD PRICES STABLE
Similar to our weekly monioring, Th elatest food price data from Statistics NZ shows no food price inflation
DAIRY PRICES RISE
The latest market update of dairy prices shows milk poder prices stable but Butter and Cheese prices rising. Good news for Fonterra who have capacity in those products.
HEARTLAND BANK IS BUYING SENTINEL
In what appears at first blush an odd move, listed Heartland Bank is buying a reverse equity business. The shareholders of the purchased company will become significant holders of Heartland stock.
WHOLESALE RATES TREND UP
Swap rates were lower today, while the 90 day bank bill rates were down marginally to 2.93%.
OUR CURRENCY RISES
The NZD hovered in a narrow range against most currencies today.
WESTPAC'S TAP ISSUE DISAPPOINTS
Westpac raised $325 mln of fixed rate notes when they were seeking "up to $500 mln". The yield was at the top of the offered range, at 5.353%.
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