Here are the key things you need to know before you leave work today.
TODAY'S MORTGAGE RATE CHANGES
AMP Home Loans changed rates today, adopting the previously announced Kiwibank 'specials'. ICBC, the large Chinese bank with a retail presence in Auckland, has cut its its 1, 2 and 3 yr fixed home loan rates and added a 4 and 5 year offer.
TODAY'S DEPOSIT RATE CHANGES
ICBC has increased its 6 and 12 month term deposit offers, but cut its 2 year offer.
HIGH PRICES, BAD TIME TO BUY
The ASB housing confidence survey found that in spite of rising prices, more people believe it's a bad time to buy a house than believe it's a good time. ASB's economists are also warning that more mortgage lending restrictions should be expected from the RBNZ.
RBA GLOOMY
A deteriorating economic outlook in Australia sparked their February interest rate cut, but their Reserve Bank remains concerned about the continued strength of house prices. Today's Roy Morgan Aussie consumer confidence data also records another drop.
NZ SHINES, AU "TOUGHER"
ANZ NZ became a bigger part of the ANZ group in the December quarter as the NZ operations grew faster than their Australian and other global interests. ANZ NZ now contributes 22.7% of Group income compared with just under 21% in the same quarter a year earlier. In Australia Mike Smith talked about a "tougher, more volatile environment" there, in contrast to NZ, which is "performing strongly". Investors punished ANZ however based on their AU outlook.
NEW CIO FOR WESTPAC
Westpac NZ has hired Dawie Olivier as its chief information officer, replacing Jason Millett who has been the bank's acting CIO since March last year. Olivier is due to join in mid-April from South Africa's Standard Bank.
WHOLESALE RATES FALL
Our wholesale swap rates gave back some of yesterday's gains today, falling -2 bps across the whole curve. The 90 day bank bill rate followed, falling -1 bp today to 3.62%.
NZ DOLLAR RISES
Check our real-time charts here. There has been little change today. We are now at 75.1 USc, at 96.5 AUc , and the TWI is at 78.4.
You can now see an animation of this chart. Click on it, or click here.
Daily exchange rates
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1 Comments
1 large step nearer to a grexit?
http://krugman.blogs.nytimes.com/2015/02/16/athenae-delenda-est/?module…
"Translation (if you look back at that Eurogroup statement): no give whatsoever on the primary surplus of 4.5 percent of GDP.
There was absolutely no way Tsipras and company could sign on to such a statement, which makes you wonder what the Eurogroup ministers think they’re doing."
Commiting harakiri by the looks of it.
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