Most economists expect the bank to now retain an easing bias, with some tipping the rate to drop to 2 per cent.

New Zealanders have $146 billion saved in the bank - and the interest payments many depend on are falling quickly.

The kiwi dollar has fallen by a full US cent this morning after the Reserve Bank cut the official cash rates to 2.75pc.

The New Zealand dollar has advanced ahead of the Reserve Bank's official cash rate announcement this morning.

Global equity markets gained and commodity markets rallied overnight, triggered in part by a late surge in Chinese equities.

The mortgage rate war is heating up ahead of a widely tipped rates cut on Thursday, with ASB now matching the 4.35pc rate BNZ unveiled last week.

Traders have put 78 per cent odds of Reserve Bank governor Graeme Wheeler cutting the official cash rate.

European Central Bank President Mario Draghi was asked last week whether his institution should consider revising its 2 per cent inflation target.

The NZ dollar declined after US labour market data left open the possibility of US interest rate hikes this month.

China's move doesn't have to spark rivalry, Japanese visitor tells Herald political editor Audrey Young.

New Zealand trusts associated with a former Russian billionaire once known as "Putin's banker" are now subject to a worldwide freezing order by a London court.

Banks appear to have come to the party for NZ farmers needing support during the dairy downturn.

US economic data has kept alive expectations the Federal Reserve may hike interest rates this month.

The dollar fell after weak Chinese factory data yesterday raised concerns about a slowdown in Asia's largest economy.

The U.S. Justice Department is finalising agreements with Swiss banks that may have helped Americans evade taxes.

Investors are selling currencies such as the kiwi as they unwind so called 'carry trades'.

Business confidence has dropped to levels last seen in the immediate aftermath of the global financial crisis.

The dollar edged up with gains limited by a stronger US dollar buoyed by better economic data.

The world's largest bank, Industrial and Commercial Bank of China, is stepping up its international expansion to offset China's slowing economic growth, according to former chief executive Yang Kaisheng.

It follows a period of volatile trading as investor confidence about weakness in China abated.

The New Zealand dollar slumped to its lowest level in six years as equities sank amid concerns about global growth.

The dollar rose as traders delayed their expectations for US interest rate hikes, broadly weakening the greenback.

Royal Bank of Scotland boss Ross McEwan follows through on his promise to return $2.4m of his share-based allowance by last week giving $1.2m to charity.

Q: A few years ago my daughter entered the workforce. She got a credit card with a limit of $500. Within a year the bank sent a letter raising the limit to $10,000.

The New Zealand dollar gained as traders pare back bets for the Federal Reserve to hike interest rates next month.

Mondo chief has told UK regulators he wants to run a new type of bank.

The dollar jumped after US Fed minutes pushed out expectations for a US interest rate hike, damping greenback demand.

Aucklanders looking to withdraw cash from ATMs might be in trouble as security guards used to replenish ATM machines in the city go on strike.