Here are the key things you need to know before you leave work today.
ANZ INCREASES INTEREST RATES
The country's largest bank raised interest rates today. It hiked home loan rates for four fixed terms by between 5 and 25 bps, and dropped one rate by 30 bps. It also raised five term deposit rates by between 10 and 25 bps. None of these changes lead the market.
KIWIBANK RAISES SHORT TERM DEPOSIT RATES
The state-owned bank raised its Online Call, 90 day Notice Saver and Front Runner rates by 15 bps.
PRODUCER PRICES RISING
Producer pricing pressures rose in the March quarter, with input costs rising 3.1% from a year earlier, while output prices increased by 4.0% over the same period. Increases were concentrated in the dairy and electricity sectors, but construction sector profit margins also rose.
FARM SALES VOLUMES RISE WITH PRICES
164 farms were sold nationally in April, the latest REINZ data shows. Prices per hectare rose for all types of farms except forestry units. Record prices were paid for dairy farms in Canterbury and the Bay of Plenty. Lifestyle block sales fell, however.
WHOLESALE RATES DOWN
Swap rates were up marginally 1 bp for terms 1, 2 and 3 years. All others were unchanged. The 90 day bank bill rate was also up 1 bp now at 3.40%.
OUR CURRENCY
The NZ dollar has been basically unchanged during the day against the USD at 86.5 USc, is up a little vs the Aussie at 92.4 AUc and the TWI is at 80.3.
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