Here are the key things you need to know before you leave work today.
IMMIGRATION BOOM
New Zealand records its second highest ever net monthly migration gain on a seasonally adjusted basis, and 'best' March for net arrivals.
ANZ CHANGES LVR THRESHOLD
Our biggest mortgage bank loosens its LVR limit from 80% to 90% LVR, but keeps low equity premiums unchanged.
CREDIT CARD DEBT JUMPS
After being relatively stable for the past two years, credit card debt is rising again. The annual increase to March was +$250 million, a 4.4% rise. Banks will be smiling.
KIWISAVER FUND RETURNS
If you are in a default or conservative KiwiSaver fund you can now check how your fund is performing here. You may also like to know the surprisingly good returns these types of funds have been producing seem to be tailing off. Time to review that the fund you are in is suitable for your life stage.
'DON'T DO IT'
Tomorrow's anticipated OCR rate hike has brought a political response even before it has happened; the Greens call on the RBNZ to hold off 'because inflation is negligible'.
AUSSIE CPI RESULT SURPRISES ANALYSTS
Australian inflation rose 0.6% in the March quarter from the December quarter. This was below the expected +0.8%. The currency markets immediately marked down the Aussie dollar.
WHOLESALE RATES HIGHER
Swap rates fell back a basis point or two today after yesterday's sharp rise. The 90 day bank bill rate kept on rising however and is now at 3.30%.
OUR CURRENCY
The NZ dollar had been trading very quietly today, but as soon as the Aussie CPI data was released, the AUD fell. The NZD is now at 86.0 USc and 92.6 AUc. The TWI is at 80.0.
3 Comments
You would think the Greens would want to slow down immigration to be more sustainable. They don't. All they want to do is house the growing population more densely. Afraid of being called xenophobes.
You would also think the Greens would be challenging the crazy financial/banking system like their overseas counterparts. They don't because they are trying to "mainstream". Afraid of being labeled radical or "kooky". And the GFC and ever increasing debt is rational?
If you actually read their policy on the other hand.
Just to cherry pick as reading isnt your high point it seems,
"Is humane, practical, sustainable,"
"Because of this, an open immigration policy would be unmanageable, and it is the Government's duty to ensure that voluntary immigration is managed in the national interest."
8><---
"Give priority in the skilled migrant category to skills needed for a sustainable society and economy, such as scientists, engineers and other trades with specialised skills applicable to fields including — but not limited to — organic farming, biodegradable materials, recycling, and renewable energy and fuels"
scams & finance.
"Require strict scrutiny of applications in the investor category for sincerity and benefit to quality of life in Aotearoa/NZ — people shouldn't be able just to buy their way into Aotearoa
tighten up on scams in which overseas millionaires buy up NZ property by making business-development promises that they don't keep."
"Contribute to a stable economy and lend only what is sustainable for citizens, business and government to service;
Be profitable to its shareholders and contribute to society via dividends and taxation.
Be answerable for the consequences of negative externalities that it imposes on the New Zealand community."
In terms of ever increasing debt, well considering the present state (GFC) we are in is largely due to the broken right wing ever growing free market, thats overly rich.
regards
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