US delays tariffs on China; US monetary policy on hold; Chinese food security threat; Japanese exports down; German growth improves; Aussie construction takes a hit; Dairy off; UST 10yr 2.43%; oil unchanged and gold lower; NZ$1 = 65 USc; TWI-5 = 70.1
Government to give itself more wiggle room to spend, as Finance Minister announces 20% debt/GDP target will be replaced by a broader target of 15%-25% from 2021
Bank economists say the global dairy prices and outlook are pointing to a farmgate milk price in excess of $7 per kilogram of milk solids in the new season
Kiwibank, The Co-operative Bank, SBS Bank & TSB welcome proposed RBNZ changes to level the capital playing field, but want access to a wide range of capital sources warning as currently proposed the RBNZ plans are unworkable for small banks
Auckland Council approves annual budget with Mayor Phil Goff's wanting to focus on the positive as Councillor Mike Lee suggests the financial reality will emerge after the election
| Institution | Term | Rate |
|---|---|---|
| Heretaunga BS | 2 years fixed | 4.85% |
| NZCU South | 1 year fixed | 4.90% |
| Nelson BS | 1 year fixed | 4.89% |
| Wairarapa BS | 2 years fixed | 4.99% |
| Housing NZ | 5 years fixed | 4.95% |
| Institution | Type | Rate |
|---|---|---|
| Rabobank | PremiumSaver | 2.10% |
| NZCU South | Success Saver | 1.60% |
| Nelson BS | On Call | 1.75% |
| Heretaunga | On Call | 1.75% |
| NZCU Employees | Target Saver | 2.00% |
