What happened Wednesday

Economy / news

A review of things you need to know before you sign off on Wednesday; ASB cuts retail rates, ANZ cuts business rates, work visa surge, brighter truckometer, concrete pour low, corruption slide, swaps waver, NZD holds, & more

12th Feb 25, 4:00pm by David Chaston

Here are the key things you need to know before you leave work today (or if you work from home, before you shutdown your laptop).

MORTGAGE RATE CHANGES
ASB cut rates slightly today, giving them some market-leading positions. More here. All rates are here.

BUSINESS LENDING RATE CUTS
ANZ said it is reducing its business lending base rates by -25 bps as follows: Business Bank Indicator Rate to 12.1%, Agri Current Account rate to 10.3%, and the Business Overdraft to 14.1%

TERM DEPOSIT/SAVINGS RATE CHANGES
ASB cut TD rates today, and by much more than the home loan rate cuts. All updated term deposit rates less than 1 year are here, for 1-5 years, they are here.

NEW CUSTOMERS GET THE BENEFITS, NOT EXISTING ONES
New mortgage takers are benefiting from the recent rate falls - existing customers not so much. The latest monthly RBNZ figures show sharp drops in what customers were paying on new mortgage rates in the second half of last year - but the bank yields on existing mortgages are falling only very slightly.

IMMIGRANT WORK VISA SURGE
A total of 196,137 people were in NZ on work visas at the end of January, plus another 66,147 on student visas. Work visas have surged to near record numbers for the time of year.

AN UNEXPECTED JANUARY SPURT
The ANZ truckometer review found that while consumer traffic flows aren't growing, there was a notable rise for commercial traffic flows in January. Their Light Traffic Index continued to bounce around a flat trend, while the more volatile Heavy Traffic Index jumped +4.0% in January after a modest rise in December. The heavy traffic is now up +4.1% from a year ago, while light traffic is up just +0.2% on the same basis.

HOLDING ITS SHARE, BOOSTING ITS PROFIT
ASB said its interim profit rose as it boosted its net interest margin. It claimed it is holding on to its usual market shares. This profit increase came despite big bump up in staff numbers as the scam war continues. It also claimed to be #1 among the main banks for net promotor score.

MOVING BACK UP, BUT SLOWLY
Kiwibank said the data it has by tracking activity on the debit and credit cards their have issued its customers shows a summer of cautious indulgence for Kiwi. Spending over the summer was +2.3% greater than the 2024 monthly average. But the typical spending spike was far more muted than previous years. A shift in spending habits continues. Food and hospitality spend was strong over the summer, while retail spend declined. Kiwi prefer experiences over physical products, they say. The outlook for spending in 2025 is slowly improving. The change in interest rates and expected rise in house prices should improve the financial position of the household sector, they say.

ELLIOTT EASING HIS WAY OUT
ANZ said today that Shayne Elliott, the ANZ Group CEO, has stepped down as a non-executive director on the ANZ NZ board. He is being replaced by Carolyn Steele as an independent director. Her pre-directorships background was as a senior portfolio manager at the NZ Super Fund.

"CONTINUED STRENGTH OF OUR UNIQUE BUSINESS MODEL" - REALLY?
Dunedin-based MTF (Motor Trade Finance) is talking up its September year end result and performance, claiming "Exceeding Milestones: A Testament to Strength and Strategy". It reported net profit after tax of $5.2 mln for the year on new loans of $821.5 mln, and a total balance sheet of over $1.2 bln. The profit reported is -55% lower than the prior year. The new loans were -2.9% lower, while their total assets rose +12.0%.

REGIONAL DROUGHT
Big falls in the delivery of ready mixed concrete in Waikato, the Bay of Plenty (together -11.8%), and in Wellington (-12.8%) have driven the national levels of poured concrete lower by -6.2% from a year ago. For Auckland, the dip was just -1.5%, and for Christchurch it was -4.3%. Notably, the amount delivered in Auckland in Q4-2024 was actually its second higher of any quarter over the past two years.

TAKING ACTION BY ORDERING A REVIEW
The Government is 'taking action' on issues it sees with ACC, by having a Review. In fact it is having two of them. And that is on top of a new, but separate review of our competition laws.

NZX UPDATE
The NZX50 is down -0.1% in 3pm trade, unchanged from this time last week, and up +0.5% from a month ago. There are 36 gainers today, led by Synlait's +4.7%, Napier Port +2.6%, Kathmandu +2.5% and Port of Tauranga +1.4%. But there are 41 decliners, led by Rakon -3.2%, Spark -2.0%, Mercury -1.9% and Vista -1.8%. Market heavyweight F&P Healthcare is little-changed today.

ANZ GETS ITS FUNDS, EVEN IF SLIGHTLY EXPENSIVE
ANZ said it raised $750 mln in its 5 year unsecured unsubordinated fixed rate bond offer, at a rate of 4.63%, which involved a margin of +95 bps over swap. (ANZ offer retail investors 4.30% for a 5 year TD.) It seems unlikely these funds would be used for home loans.

AN UNWELCOME SLIDE
The just released 2024 Corruption Perceptions Index by Transparency International has New Zealand's global ranking slipping further, now to fourth, with Singapore moving into third place. This also bumps New Zealand off the top rank in the Asia-Pacific region. The Index is published annually and is the leading global indicator of public sector corruption. While still in the top 10 worldwide, New Zealand has surrendered its position as a world leader in integrity and transparency. For many years New Zealand scored ‘least corrupt’ alongside Denmark, now it is now 7 points behind its previous peer.

AUSSIE HOUSING INVESTORS PULL BACK
In Australia, December home loan data revealed modest changes. The total number of new loan commitments for dwellings fell -0.4% in the December quarter while the value rose +1.4%. Owner occupier activity was positive, but investors pulled back. The number of new investor loan commitments for dwellings fell -4.5% in the quarter while the value fell -2.9%.

SWAP RATES STILL FINDING TODAY'S LEVEL
Wholesale swap rates are hard to tell where they might end up, so keep an eye on our chart below which will record the final positions closer to 5pm. The 90 day bank bill rate was down -1 bps on Tuesday at 3.86%. The Australian 10 year bond yield is up +7 bps at 4.50%. The China 10 year bond rate has held at 1.63%. The NZ Government 10 year bond rate is up +1 bp at 4.68% while today's RBNZ fix was at 4.63% and unchanged. The UST 10yr yield is now just on 4.54% and up +5 bps from this time yesterday. Their 2yr is up +1 bp at 4.29%, so that positive curve is steeper at +25 bps.

EQUITIES MIXED
The NZX50 is down -0.1% in late Wednesday trade. The ASX200 is up +0.2% in afternoon trade. Tokyo is up +0.3% in early Wednesday trade. Hong Kong is up +1.5%, but Shanghai is only up +0.1% its open. Singapore has opened up +0.2%. Wall Street closed its Tuesday trade with the S&P500 virtually unchanged.

OIL FIRMS AGAIN
The oil price is up +50 USc from this time yesterday, now just on US$73/bbl in the US, and at over US$76.50/bbl for the international Brent price.

CARBON PRICE UNCHANGED AGAIN
The carbon price is still within its tight range, today still at NZ$63/NZU. The next release of units at the official auction is on March 19, 2025. See our new daily chart tracker of the NZU price for carbon, courtesy of emsTradepoint.

GOLD DOWN
In early Asian trade, gold is down -US$42 from this time yesterday, now at US$2894/oz in a retracing.

NZD FIRMS AGAINST THE USD
The Kiwi dollar has risen +20 bps from this time yesterday, now at 56.6 USc. Against the Aussie we are unchanged at 89.9 AUc. Against the euro we are also little-changed at 54.7 euro cents. This all means the TWI-5 is now just under 67.2 and up +10 bps.

BITCOIN SOFT
The bitcoin price is down -2.0% from this time yesterday, now at US$96,141. Volatility of the past 24 hours has been modest at just on +/- 1.9%.

Daily exchange rates

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Source: RBNZ

Source: CoinDesk

Daily swap rates

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Source: NZFMA

This soil moisture chart is animated here.

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93 Comments

by observer | 12th Feb 25, 4:20pm 1739330431

" ... but the bank yields on existing mortgages are falling only very slightly."

The answer to that is for customers to refuse the roll-over deals their current lender offers them. If they do that the lenders will generally offer them a better deal. The lenders know full well that shifting a mortgage is pretty easy nowadays, but the rely on a good number of their customers being too lazy or stupid to change.

by Yvil | 12th Feb 25, 5:19pm 1739333997

I think you misunderstand, Observer. The yields on existing mortgages are falling slowly simply because many borrowers are still locked into a term that is yet to renew. As more existing mortgages come up for renewal, these yields will drop faster.

by ChrisOfNoFame | 12th Feb 25, 5:20pm 1739334027

To understand a bank's "yeilds", or "margins", in NZ requires you understand just how fat and lazy our banks are.

Hands up.

How many actually know how "how fat and lazy our banks are"?

Yeah ... crickets ...

by Pa1nter | 12th Feb 25, 5:41pm 1739335305

We should all be thankful we have you here to explain things in such objective and clear terms.

by J.C. | 12th Feb 25, 4:26pm 1739330764

The just released 2024 Corruption Perceptions Index by Transparency International has New Zealand's global ranking slipping further, now to fourth, with Singapore moving into third place.

This Index has very little meaning except to position some kind of moral high ground that doesn't really exist. The research design is framed from a Western POV of what actually constitutes corruption and completely ignores 'soft corruption' like the Game of Mates, which we know is part and parcel of the way things operate in Aotearoa and Aussie.

The timing of the Index release is interesting given what's happening in the US and the ruling elite scurrying like rats and desperate to cover their tracks.

by RickStrauss | 12th Feb 25, 4:35pm 1739331339

Measuring a large percentage of stuff is useful even if it doesn't measure everything adequately. However, what suggests they don't factor in nepotism into the index?

Novel that two National-ACT governments in a row have pushed NZ down the Corruption Perceptions Index.

Cannot have helped having the MP for Marlboro leading the charge.

by J.C. | 12th Feb 25, 5:20pm 1739334031

Measuring a large percentage of stuff is useful even if it doesn't measure everything adequately. However, what suggests they don't factor in nepotism into the index?

What insight does it reveal and value does it offer me? As I said, beyond 'pretending' Aotearoa is on some higher moral ground than Thailand or Ukraine, it's meaningless. In fact, I'd go as far to say that the Global South nations look at it as hypocrisy.

by RickStrauss | 12th Feb 25, 7:55pm 1739343338

As someone who has spent years living in Southeast Asia, I find that a little absurd. Corruption makes a massive detrimental difference to lives and equating NZ's levels with Southeast Asia is disconnected with reality.

What you personally gain from it may be another matter.

by Pa1nter | 12th Feb 25, 8:15pm 1739344552

It's what happens when you spend too much effort trying to understand and interpret the world using abstract indexes, rather than actively living in it.

JC would try and establish equivalency between the two Koreas.

by J.C. | 12th Feb 25, 8:53pm 1739346823

I presented one time with TI and the Australian Federal Police on this topic in Ha Noi to the Australian and British Chambers of Commerce. Yes, corruption does make a difference to people's lives directly and indirectly.

by Pa1nter | 12th Feb 25, 11:09pm 1739354963

Was this business trip not long enough for you to ascertain that corruption in Vietnam is a lot more prolific than in NZ?

2/3 of their population attest to having to bribe a public official, they are a one party state with significantly less transparency and rule of law.

Jesus tapdancing Christ.

by J.C. | 12th Feb 25, 11:12pm 1739355177

Was this business trip not long enough for you to ascertain that corruption in Vietnam is a lot more prolific than in NZ?

According to who? TI or your reckon? The most recent bank / property scam in Vietnam involved audits from EY and KPMG.

by Pa1nter | 13th Feb 25, 7:05am 1739383537

If you've ever actually talked to the locals that live in this region you should quickly ascertain that.

by mfd | 12th Feb 25, 4:54pm 1739332462

I think they are looking at corruption like "do you have to pay a bribe to get out of a traffic stop", rather than the "is your company more likely to get favourable treatment from a government after you financially supported their election campaign".

We don't have much of the former but perhaps quite a bit of the latter.

by J.C. | 12th Feb 25, 5:11pm 1739333476

Which is morally more dubious? Don't be surprised if Aotearoans are likely to think the former. That is why these indexes are framed from a Western POV.

by Frank Sobotka | 12th Feb 25, 5:15pm 1739333738

Niu tirenians please JC. Toitu te tiriti and all that

by mfd | 12th Feb 25, 5:16pm 1739333795

The former would certainly be more obviously offensive, but the latter happening in the background is also damaging to society and obviously unfair - ultimately the taxpayer suffers from this kind of corruption as others feather their nests.

I find it hard to choose but I agree there should be at least equal attention paid to our Western corruption - and even the perfectly legal conflicts of interest like a PM holding 9 investment properties and passing rules to enrich property investors. I'm a big fan of blind trusts for those in decision making positions.

by Here.for.the.c… | 12th Feb 25, 5:34pm 1739334855

Do you think there is some sort of dichotomy where you can only have one sort of corruption or the other?

If you can bribe the police why wouldn't you be able bribe everyone?

by Pa1nter | 12th Feb 25, 5:40pm 1739335213

Exactly.

by RickStrauss | 13th Feb 25, 9:50am 1739393459

I think that's a belief not yet corroborated with any supporting evidence.

My years living in SEA gave me good exposure to all the types of corruption we are discussing here, including the procurement cycle. This stuff is all rampant.

Murray, below, raises one that'd likely be less common: inbound immigrants paying for jobs to get a visa.

by Murray Falconer | 12th Feb 25, 9:58pm 1739350730

I know one thing they don't look at - "how much did you have to pay for your job and shot at residency?"

If they did, there is no way we'd still be 4th!

by HouseMouse | 12th Feb 25, 5:21pm 1739334103

100% agree

by Pa1nter | 12th Feb 25, 5:32pm 1739334735

This is the sort of comment you make when you've never had assault rifle wielding cops shake you down for bribes overseas.

Highly corrupt nations have more of the "soft corruption" you mention, as well as corruption fairly prolifically though every level of officialdom.

You really need to take a world tour through some of the worlds more dodgiest areas.

by HouseMouse | 12th Feb 25, 7:08pm 1739340494

That’s true, however the superiority complex around our lack of ‘hard’ corruption is somewhat grating, and rather jaundiced

by RickStrauss | 12th Feb 25, 7:57pm 1739343461

The presumption that the index doesn't consider different forms of corruption is very odd, though.

by Pa1nter | 12th Feb 25, 8:13pm 1739344408

They specifically mention soft corruption of first world political systems.

And then also countries which randomly arrest and murder their population. You know, the sort of thing we basically don't have to think about.

by Pa1nter | 12th Feb 25, 7:59pm 1739343563

Blind patriotism isn't a good thing, then again neither is being incapable of working out most things are on a spectrum rather than just being binary matters.

Our relative lack of corruption should be something we should be thankful of, every single day. Many parts of human existence is pretty damn grim, there's a reason migrants flow more in one direction than another.

by HouseMouse | 12th Feb 25, 10:16pm 1739351786

I suspect corruption is far more common here than is officially captured. Although I guess that is the same anywhere.

by Pa1nter | 12th Feb 25, 10:25pm 1739352357

Indeed.

This survey is about public perception, which will be influenced by the corruption felt and witnessed by the public.

We don't even deserve what we have, the fact there's quite a few on here dissatisfied with that is amusing. Another "supermodel with pointy elbows" debate.

by J.C. | 12th Feb 25, 4:30pm 1739331014

So Jim Chalmers tells regulators to advise banks to disregard HELP debts in mortgage applications. Banks will be told not to count HECS-HELP & other student loans in debt calculations for home loans.

What does this actually mean though? Why are they so desperate to prop up the Ponzi when many Aussies believe the nation in in crisis on property supply?

This is Chalmers' reckon:

"By unlocking more finance from the banks we'll see more housing projects get off the ground more quickly,"

Seems like an unserious person to me.

https://www.abc.net.au/news/2025-02-11/banks-to-be-told-to-disregard-st…

by RickStrauss | 12th Feb 25, 4:36pm 1739331419

Hah - tries to frame it like it's about unlocking new supply too, not just demand. They always seem to pretend that.

by JimboJones | 12th Feb 25, 4:56pm 1739332562

There is a point where house prices get too low and it stops supply increasing. I think we are at that point in NZ where you can barely build a house for the potential sales price. But Aus are nowhere near that.

by J.C. | 12th Feb 25, 5:07pm 1739333225

Gotcha. So removing any student debt barriers to entry to mortgage debt ensures house prices don't "get too low."

Genius.

by Pa1nter | 12th Feb 25, 5:49pm 1739335747

I think we are at that point in NZ where you can barely build a house for the potential sales price.

The lions share of new house building in my region are for vanity projects where the wealthy owners don't care about resale value.

by IT GUY | 12th Feb 25, 6:12pm 1739337160

If that is the case , it is the end for resi construction, because we are also at the point where people cannot afford to buy that house.

They have decided that the house in Aussie is better value all up, right or wrong you cannot make them buy our house.

It will sort itself out in the normal manor.

Capitalism is proven and no one wants the gubermint to step in as buyer of last resort do we.

by JimboJones | 12th Feb 25, 6:37pm 1739338665

The couldn’t afford it at 7% interest rates. At 5% maybe, and more cuts to come.

by IT GUY | 12th Feb 25, 6:46pm 1739339192

I am worried about the job cuts as well.....

by JimboJones | 12th Feb 25, 7:31pm 1739341897

I don’t recommend the unemployed buy one…

by Palmtree08 | 12th Feb 25, 5:15pm 1739333729

"Seems like an unserious person to me."

Politics is where unserious people can always seem to find space at the trough.

by K.W. | 12th Feb 25, 6:11pm 1739337096

Because there is an election coming up. More voters own houses than dont.

by ChrisOfNoFame | 12th Feb 25, 4:53pm 1739332407

I'm seeing quite lot of mortgagee sales "at this time".

And "at this time", in the economic cycle, that's when they show up. More will come.

by JimboJones | 12th Feb 25, 4:56pm 1739332609

Define “quite a lot”? What percentage of the total housing stock are you talking?

by ChrisOfNoFame | 12th Feb 25, 5:29pm 1739334597

“quite a lot”, is my measure. If you challenge it, I will not resopnd. As they say, 'do you own reasearch'. I am paid for my research.

by Yvil | 12th Feb 25, 5:33pm 1739334809

I have seen no mortgagee sale, it's my measure, don't challenge it, lol.

by Pa1nter | 12th Feb 25, 5:38pm 1739335101

My mum says I'm cool

by IT GUY | 12th Feb 25, 5:59pm 1739336365

Yeah but she dresses you funny.

sorry could not resist, low hanging fruit ....

by kraken | 12th Feb 25, 5:40pm 1739335203

I agree Yvil, basically, "Trust me bro".

by Pa1nter | 12th Feb 25, 5:46pm 1739335615

It's all happening, exactly as he claimed.

No, not that time. Or that other time. The other other time.

by Pa1nter | 12th Feb 25, 5:35pm 1739334916

As mentioned many times, the burden of proof is on the claimant.

Otherwise no one has any reason to take anything you say remotely seriously.

There's 57,000 properties for sale on trade me, and 59 marketed with the term "mortgagee" in the listing.

by Yvil | 12th Feb 25, 5:42pm 1739335358

Maybe all 59 mortgagee sales are on Chris' street ?

by IT GUY | 12th Feb 25, 6:15pm 1739337305

there are only 2 with bank says sell...

that said I know someone who had to sell or the bank would have closed. Never was a mortgagee sale although it was. Always better for everyone if its not. So if you suspect it could be bid or offer accordingly.

You make all the money in the buying

by kraken | 12th Feb 25, 6:37pm 1739338676

The whole street smells of dirty nappies

by JimboJones | 12th Feb 25, 7:30pm 1739341852

So 0.003% of all houses. Yikes.

by Pa1nter | 12th Feb 25, 8:01pm 1739343663

Yeah but it's up 30%!

A veritable tsunami

by Yvil | 12th Feb 25, 9:44pm 1739349890

In my maths, 59/57,000 = 0.1%

Edit, you did say "all houses" so you probably divided 59 mortgagee sales by …about 2 million houses in NZ ? Yep, that's 0.003%.

I think we're OK, sorry Chris.

by Palmtree08 | 12th Feb 25, 5:10pm 1739333455

"New Zealand has surrendered its position as a world leader in integrity and transparency."

At least NACTNZ has achieved something.

by kiwikidsnz | 12th Feb 25, 6:38pm 1739338702

2024 4th (out of 180 countries, Oz 10th, Canada 15th, Japan/UK 20th, USA 28th)

2023 3rd

2022 3rd

2021 3rd

2020 1st=

did you call out Labour & Jacinda for losing 1st place & maintaining the largest drop?

This sort of Public Service behaviour under Labours leadership doesn't help "perceptions of corruption"

https://nopunchespulled.com/2024/07/24/government-agency-corruption/

https://www.stuff.co.nz/nz-news/350332750/worksafes-whakaari-investigator-said-chopper-companies-shouldnt-be-charged

by Frank Sobotka | 12th Feb 25, 5:13pm 1739333605

Don't let this distract you from the the fact that in 1966, Al Bundy scored four touchdowns in a single game while playing for the Polk High School Panthers in the 1966 city championship game versus Andrew Johnson High School, including the game-winning touchdown in the final seconds against his old nemesis, "Spare Tire" Dixon.

by ChrisOfNoFame | 12th Feb 25, 5:15pm 1739333720

"The Government is 'taking action' on issues it sees with ACC, by having a Review."

Yay. Trumpism in NZ - Musk style.

by Palmtree08 | 12th Feb 25, 5:30pm 1739334646

Yep, look out for this one from Shane Jones and we'll know it's the final straw.

"Trump signs order shifting US back toward plastic straws"

https://www.bbc.com/news/articles/c2k574ydyyqo

by K.W. | 12th Feb 25, 6:15pm 1739337318

I would vote for any party that brought back plastic straws. I hate paper ones with a passion. And worse, every time I suck on a soggy paper straw that ruins my drink I am reminded of "that woman" who banned them in the first place. Then my drink tastes even worse.

by Baywatch | 12th Feb 25, 6:30pm 1739338201

I bet you only like the white ones too KC

by JimboJones | 12th Feb 25, 7:06pm 1739340408

And the blue ones in NZ or the red ones in US.

by IT GUY | 12th Feb 25, 7:24pm 1739341459

I did not know that straws had pro nouns

by mfd | 12th Feb 25, 6:30pm 1739338239

I'm not sure when I last used a straw, could be a year or two.

Maybe you should take the plunge and go strawless if they cause you such emotional problems?

by tis i | 12th Feb 25, 6:33pm 1739338412

I fear that just may be the……last straw!

by E46 | 12th Feb 25, 7:02pm 1739340169

It's about time the media focused on straw policy.

by JimboJones | 12th Feb 25, 7:04pm 1739340284

A little piggy told me it’s a cheap way to build a house.

by ChrisOfNoFame | 12th Feb 25, 5:25pm 1739334305

Hi David, Is J.C. encouraged to be amoung the first posters on every evening/morning report?

by kraken | 12th Feb 25, 5:37pm 1739335027

If you wake up earlier you can be the first.

by IT GUY | 12th Feb 25, 6:02pm 1739336536

I held that title for a while, but i used to get more likes....

by JimboJones | 12th Feb 25, 6:42pm 1739338938

Likes are easy, just say anything bad about the government or the housing market. I prefer a factual comment that gets no likes because its unpopularly true.

by Pa1nter | 12th Feb 25, 8:08pm 1739344088

I think it was Einstein that said "what's popular is not necessarily true, and what's true is not always popular".

There's some sentiments here that are self evident. The place shouldn't be too over crowded. Houses should be cheap (and food, and everything). People should earn money through active endeavour. We should have awesome infrastructure, schools, medical, etc. and endless list of nice to haves.

But the "how", will require a lot more than fairy kisses and unicorn dreams.

by Palmtree08 | 12th Feb 25, 5:27pm 1739334423

"A land deal as part of a controversial waste-to-energy plant proposal in South Canterbury has fallen over."

Good to see this project fall off the fast track list. Being a local, I wasn't looking forward to dioxins being liberally spread through the local air column and wafting my way. Perhaps we could take a look at the totally unnecesary production of waste in the first place? Have wait for a change of government though. Obviously.

https://www.rnz.co.nz/news/country/541545/firm-behind-controversial-pla…

by Yvil | 12th Feb 25, 5:32pm 1739334742

NIMBY ?

by IT GUY | 12th Feb 25, 6:05pm 1739336726

Was it a waste full and a McDonalds?

The National voters of Wanaka have not got the say YES growth growth growth message.

If you want a quaint little old fashioned ski village, stay in Turangi.

by Hans Brink | 12th Feb 25, 9:44pm 1739349844

Turangi! There is fast food available there, very progressive.

by K.W. | 13th Feb 25, 12:20am 1739359217

Depends on how you measure growth. If you mean "retaining the ability to charge $50 for a burger so I can invest my profits into another multi-million dollar home in the area" then its probably the right decision.

by HouseMouse | 12th Feb 25, 7:11pm 1739340711

I recall you submitted against high density rezoning in St Mary’s Bay

by J.C. | 12th Feb 25, 6:16pm 1739337378

The shares of Korea's four major entertainment companies — SM, YG, JYP Entertainment and HYBE — have surged to new 52-week highs, as investors view the K-pop industry as a safe haven amid U.S. President Donald Trump's escalating tariff dispute.

Very much doubt your IFA picked this up.

https://www.koreatimes.co.kr/www/biz/2025/02/175_392014.html

by Llama_360 | 12th Feb 25, 6:49pm 1739339392

Big day for liquidation advertisements. Usually only 3-4 a day. Today there were 24 advertised in the Gazette. That is the most I have ever seen by far.

by HouseMouse | 12th Feb 25, 7:13pm 1739340800

It’s getting really ugly out there. The RBNZ may need to cut lower than most expect

by JimboJones | 12th Feb 25, 7:34pm 1739342070

Judging by Orr’s history he will keep going from one extreme to another. He’s on a mission to save the economy now after his previous mission to destroy it.

by IT GUY | 12th Feb 25, 7:05pm 1739340310

I hear on Newstalk ZB that BP are cutting back on green research and focusing on fossil more.

And all the generators in NZ want to extend Huntly life,

Maybe its time to buy up land south of Dunedin and learn about growing Mango's

by IT GUY | 12th Feb 25, 7:44pm 1739342673

They are the last generation

https://www.theguardian.com/world/2025/feb/12/china-marriage-statistics…

by JimboJones | 12th Feb 25, 8:13pm 1739344389

Smart people

by kraken | 12th Feb 25, 8:24pm 1739345081

Some think that China's true population is between 600-800 million, rather than the official 1.3 billion.

by IT GUY | 12th Feb 25, 8:41pm 1739346116

Not just some, there are a lot of cool companies using AI to process photos, one company has 2500 photos over time for every point on earth, they say they can use AI to work out how much development has occurred, how it was done etc and how many people where involved. I do not think China has 1.3 billion and if it does with a current birth rate of 6.3 million its prooper f^%^&%d

Think about it, US is estimated to have increased by about 30 million illegals plus births in last 3 years. even if only same as China... us only has fraction of population.

by kraken | 12th Feb 25, 9:17pm 1739348274

Low births, low growth. Deflation for many parts of the world.

Their demographics peaked somewhere around 2015-2020. The outcome of their one child policy cannot be reversed.

by Pa1nter | 12th Feb 25, 9:21pm 1739348469

It's not a one child policy thing, East Asian birthrates have unanimously nosedived at a pretty fast rate.

by kraken | 12th Feb 25, 9:30pm 1739349054

Farms got bigger, so people moved away from farming. No need for 12 kids to do manual labour anymore. Also, birth control. Many other reasons I'm sure..

by IT GUY | 13th Feb 25, 7:12am 1739383943

it was cost of education that stopped more then one

by rastus1 | 13th Feb 25, 9:08am 1739390927

NZ has the answer to declining birth rates - smash the middle class and fund the feral class.