What's happening in the world of business, finance and economics today? We have the latest business news, markets, currency and personal finance news, opinion and financial market reports. Here's six things you need to know about today.
1. Reserve Bank
The Reserve Bank's financial stability report is out this morning. The six-monthly document assesses and reports on the soundness and efficiency of the New Zealand financial system and the first of these reports was issued in 2004. Craig's Mark Lister says the Reserve Bank is now caught between a rock and a hard place, having been forced into more interest rate cuts in the face of very low inflation, a strong currency and ongoing easing policies from other central banks. "However, they will be very uncomfortable with how these low interest rates are fuelling the housing market further. Consequently, it is expected that further macro prudential tools will ultimately be rolled out, and this week's FSR provides the opportunity to set the scene for that. Possibilities include the current Auckland investor restrictions being expanded to the rest of the country, or the introduction of lending limits based on borrower incomes."
2. Major company meeting
The annual general meeting of APN News & Media is due to be held today in Sydney and that could result in details emerging about a big restructuring and perhaps a $200 million capital-raising scheme. The market has been abuzz about APN's plans after a trading halt was called on Monday.
3. Agriculture data
How is the backbone of our economy, our primary sector, doing? Agricultural production statistics are due from Statistics NZ at 10.45am.
4. New tourism information
Tourism is booming throughout New Zealand. Visitors are struggling to get a bed for the night. At 10.45am today, Statistics NZ is due to release its accommodation survey.
5. Property data to emerge
Around this time, the Real Estate Institute's sales data for April is also due out. No exact date is given, but it could be out this week.
6. Big tourism meeting
The Trenz four-day tourism conference runs into its second day in Rotorua today. This event attracted more than 350 tourism and trade buyers from 28 countries.