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Westpac

Profit at New Zealand's biggest bank fell 22% in the December quarter as non-performing loans rose above $1 billion
1st Mar 24, 9:12am
Profit at New Zealand's biggest bank fell 22% in the December quarter as non-performing loans rose above $1 billion
Latest monthly figures from the Reserve Bank reveal it boosted its 'foreign currency intervention capacity' by a further NZ$810 million last month - and it doesn't look to be finished
27th Feb 24, 3:49pm
9
Latest monthly figures from the Reserve Bank reveal it boosted its 'foreign currency intervention capacity' by a further NZ$810 million last month - and it doesn't look to be finished
Westpac says its customers are spending just 3.4% more than a year ago, while the population has grown 2.8% and retail prices have increased about 4%; customers with mortgages particularly spending less
27th Feb 24, 11:45am
5
Westpac says its customers are spending just 3.4% more than a year ago, while the population has grown 2.8% and retail prices have increased about 4%; customers with mortgages particularly spending less
The term deposit rate benefit from a challenger bank just got a sharp boost from a new offer from SBS Bank, part of a recent set of fundraising offers
24th Feb 24, 9:35am
4
The term deposit rate benefit from a challenger bank just got a sharp boost from a new offer from SBS Bank, part of a recent set of fundraising offers
Commerce Commission outlines a range of interventions it could make to influence bank behaviour in interbank payments
23rd Feb 24, 7:38am
Commerce Commission outlines a range of interventions it could make to influence bank behaviour in interbank payments
Proposed Business Growth Fund through which government & banks would make equity investments in SMEs no closer after change of government
15th Feb 24, 5:00am
6
Proposed Business Growth Fund through which government & banks would make equity investments in SMEs no closer after change of government
[updated]
Influential RBNZ survey shows a decisive drop in the expectation of future levels of inflation in a result that will give the RBNZ comfort ahead of its next Official Cash Rate decision
13th Feb 24, 3:35pm
20
Influential RBNZ survey shows a decisive drop in the expectation of future levels of inflation in a result that will give the RBNZ comfort ahead of its next Official Cash Rate decision
[updated]
There are clear signs that the RBNZ’s 'heavy handed hikes' are inhibiting household demand, and hurting business, Kiwibank economists say
12th Feb 24, 12:22pm
36
There are clear signs that the RBNZ’s 'heavy handed hikes' are inhibiting household demand, and hurting business, Kiwibank economists say
With some economists expecting a higher OCR soon, and financial markets responding with higher wholesale rates, savers might be expecting higher term deposit offers as one consequence
12th Feb 24, 11:08am
31
With some economists expecting a higher OCR soon, and financial markets responding with higher wholesale rates, savers might be expecting higher term deposit offers as one consequence
Dairy co-operative Fonterra raises its milk price for farmers by an implied 30 cents to $7.80 per kilogram of milk solids - meaning the early season slump in prices has been almost completely reversed
12th Feb 24, 9:13am
8
Dairy co-operative Fonterra raises its milk price for farmers by an implied 30 cents to $7.80 per kilogram of milk solids - meaning the early season slump in prices has been almost completely reversed
ANZ's Sharon Zollner says the Reserve Bank could shock New Zealand by lifting the Official Cash Rate 50 basis points to 6%
9th Feb 24, 1:32pm
80
ANZ's Sharon Zollner says the Reserve Bank could shock New Zealand by lifting the Official Cash Rate 50 basis points to 6%
Westpac economists react to the latest dairy prices surge by raising their forecast for the milk price to $7.90 - which is close to the top end of Fonterra's forecast guidance range to farmers
7th Feb 24, 2:11pm
Westpac economists react to the latest dairy prices surge by raising their forecast for the milk price to $7.90 - which is close to the top end of Fonterra's forecast guidance range to farmers
Stronger employment data could spook the Reserve Bank into raising the Official Cash Rate above 5.50%, economists say
7th Feb 24, 2:04pm
58
Stronger employment data could spook the Reserve Bank into raising the Official Cash Rate above 5.50%, economists say
CEO Catherine McGrath explains why Westpac NZ now allows people going through bankruptcy to keep transactional bank accounts open
31st Jan 24, 11:45am
by Guest
CEO Catherine McGrath explains why Westpac NZ now allows people going through bankruptcy to keep transactional bank accounts open
With new figures this week likely to show our inflation rate falling meaningfully, economists are nevertheless concerned about the potential for for further inflationary disruptions
22nd Jan 24, 3:05pm
4
With new figures this week likely to show our inflation rate falling meaningfully, economists are nevertheless concerned about the potential for for further inflationary disruptions
Economic data in the coming week is likely to show inflation is slowing. But the key thing will be whether the Reserve Bank is satisfied that the inflation beast really has been properly tamed - or whether we still have things to worry about
21st Jan 24, 6:00am
76
Economic data in the coming week is likely to show inflation is slowing. But the key thing will be whether the Reserve Bank is satisfied that the inflation beast really has been properly tamed - or whether we still have things to worry about
The next bank to trim home loan rates is Westpac. Their adjustments take them into line with their main rivals. But they did make a +10 bps rise to their six month term deposit rate to a somewhat unique level
18th Jan 24, 6:17pm
5
The next bank to trim home loan rates is Westpac. Their adjustments take them into line with their main rivals. But they did make a +10 bps rise to their six month term deposit rate to a somewhat unique level
Stats NZ figures show that retail card spending fell a seasonally-adjusted 2.0% in December
17th Jan 24, 12:23pm
20
Stats NZ figures show that retail card spending fell a seasonally-adjusted 2.0% in December
We looked at all bank term deposit offers in every week for all of 2023 to find the bank consistently offering the highest rates. It was close between two aggressive challenger banks
3rd Jan 24, 3:00pm
8
We looked at all bank term deposit offers in every week for all of 2023 to find the bank consistently offering the highest rates. It was close between two aggressive challenger banks
The latest ANZ Business Outlook survey shows that inflation expectations have fallen but pricing intentions have risen; the post-election rise in business confidence has continued
19th Dec 23, 1:33pm
23
The latest ANZ Business Outlook survey shows that inflation expectations have fallen but pricing intentions have risen; the post-election rise in business confidence has continued
ASB chief economist Nick Tuffley says it now looks more likely the Official Cash Rate will be cut in the second half of next year - rather than in 2025
18th Dec 23, 2:28pm
59
ASB chief economist Nick Tuffley says it now looks more likely the Official Cash Rate will be cut in the second half of next year - rather than in 2025
Overall inflation direction encouraging but bank economists cautious about stubborn non-tradeable inflation
14th Dec 23, 7:40am
57
Overall inflation direction encouraging but bank economists cautious about stubborn non-tradeable inflation
Which banks are the most & least competitive with mortgage interest rates & offers?
11th Dec 23, 9:35am
Which banks are the most & least competitive with mortgage interest rates & offers?
A more hands-on Reserve Bank pleased the big 4 banks are ready for any crisis where their shareholders' interests might differ from NZ Inc's
11th Dec 23, 5:00am
2
A more hands-on Reserve Bank pleased the big 4 banks are ready for any crisis where their shareholders' interests might differ from NZ Inc's
Westpac economists say we should expect the Reserve Bank to be unforgiving of any shocks that boost the growth and inflation outlook over the next year. Also, the RBNZ will likely be less willing to pre-emptively ease, as markets seem to currently expect
4th Dec 23, 12:15pm
24
Westpac economists say we should expect the Reserve Bank to be unforgiving of any shocks that boost the growth and inflation outlook over the next year. Also, the RBNZ will likely be less willing to pre-emptively ease, as markets seem to currently expect