Political parties threatening to pare back the conservation estate, even by 'bits and bobs,' do so at their electoral peril

As Revolut continues to pursue New Zealand banking registration, its NZ boss highlights 'untapped' business lending market as a potential future opportunity

Tensions turn up in Persian Gulf; China industry profits rise; EU inflation expectations ease; BIS worried; US trade deficit swells; Aussie housing market cools; UST 10yr at 4.37%; gold up and oil firmish; NZ$1 = 56.4 USc; TWI-5 = 60.3

Roger J Kerr has two good reasons as to why the FX markets, in buying up the USD, have misread the Fed. He also sees the Aussie dollar pulling back, but retaining its yield advantage