Here are the key things you need to know before you leave work today.
DEVELOPERS VS NIMBYS
Auckland's Unitary Plan is taking twists and turns. The original version sought a denser City and the developers were happy with that. Boomer NIMBY's weren't and their voices proved influential achieving change. Now the Property Council is biting back, warning of "complexity, and costs which will delay projects."
A NEW FRONT IN THE BANK WARS
Hard on the heels of BNZ's trumpeting of its UN diversity award, ASB is touting its CEO's 'invitation' to LinkedIn's Global Influencer Program.
TERMS OF TRADE SPECTACULAR
Terms of trade hit another 40-year high. Export volumes are at record highs, Statistics NZ says today.
KIWIFRUIT MAKES A BIG COMEBACK
The Kiwifruit industry has rebounded with record returns and buyer demand for orchards is back to pre Psa levels.
TREASURY SEES POSITIVES
Today's monthly economic review from Treasury is still upbeat. They see underlying positive momentum in the New Zealand economy in the September quarter carrying on into the December quarter, although the rebound in agricultural output from the drought will not be repeated. The number of people employed increased 1.1% in the December quarter and unemployment fell from 6.2% to 6.0%. Wage growth remained moderate and total labour incomes increased 5.2% from a year ago.
WHOLESALE RATES
Swap rates fell today across the curve reflecting the continued uncertainty over the situation in the Ukraine and after the fall in UST. The short end is being held up by the imminent OCR rise. The 90 day bank bill rates continued its upward track and sits at 2.99% today, the highest it has been since February 2011.
OUR CURRENCY RISES
The NZD is starting the week lower on the Ukraine risk aversion. Today's strong terms of trade data is limiting the downside and the TWI is now 78.5, the NZD is 83.6 USc and 94.0 AUc.
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