Here are the key things you need to know before you leave work today.
TODAY'S MORTGAGE RATE CHANGES
ANZ cut most of its fixed rates today.
TODAY'S DEPOSIT RATE CHANGES
ANZ is the latest to lower term deposit rates today. You can see where they are settling here.
AUGUST FARMS SALES
Dairy farms prices slide -7% in 12 months to August as median price per hectare for dairy farms plunge -37%. The total of all farm sales were 115 in August, only 3 of which dairy farms.
GOING UP FASTER
Local Authority revenues from rates, 'regulatory income', and petrol taxes touched $5.5 bln for the year to June, according to data released by Stats NZ today. That is annualised growth of +4.8%pa. Q2-15 vs Q2-14 is up +7.8%.
PRESSURE DECISION
Grabbing all the attention today was the Silver Fern Farms board recommending its farmer shareholders accept a new 50% shareholder who would invest new money to pay off all its debt. That investor is the Chinese firm Shanghai Maling. The decision is up to the present farmer-owners. Some non-owners seem to have a lot to say about the ethnicity of the investor. Bankers are also in there wanting their loan money repaid. (The present shareholders have the same option to match what the investor is offering.)
TAX ADJUSTMENT PROPOSED
The Government today released a discussion paper on how imputation credits work with loss grouping and is proposing to clean up some ragged edges.
POSITIVE SIGN
Dairy futures pricing suggests tomorrow's GDT auction might continue the sharp upward track of WMP prices. We will know early tomorrow morning what the actual prices are.
SUVs RULE
Just like New Zealand, vehicle sales in Australia are being held up by the shift to SUVs. SUV sales in August were +19% higher than the same month a year ago. Passenger cars were -5% lower. Overall, all vehicles were +2% up.
WHOLESALE RATES HOLD
Swap rates are lower by just -1 bps today for 2 to 4 year terms. The 90 day bank bill rate popped up by +2 bp to 2.85%.
NZ DOLLAR FLAT
The Kiwi dollar moved very little today for the second day in a row. The NZD is holding at 63.2 USc, at 88.6 AUc and 55.8 euro cents. The TWI-5 is still at 67.5. Check our real-time charts here.
You can now see an animation of this chart. Click on it, or click here.
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