ASB 'let down' customers - English
Finance Minister Bill English says ASB Bank has "let down" customers by cancelling home loan approvals as a result of new lending restrictions.
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Latest fromMonetary Policy
ASB pulls low deposit loan offers
ASB Bank has cancelled all pre-approvals for home loans over the 80 per cent loan to value ratio with effect from October 4.
Fewer Kiwis head to Oz, migration up
New Zealand gained a seasonally adjusted net 2,100 migrants last month, as fewer Kiwis cross the Tasman.
Bernanke boosts markets
The New Zealand sharemarket rallied by more than 1 per cent yesterday after US Federal Reserve chairman Ben Bernanke said he would maintain the country's stimulus programme.
Banks start to move goalposts
Banks have already started tightening up their lending criteria for customers seeking low-deposit mortgages, despite new regulations not kicking in until next month.
GDP up 0.2pc - better than expected
The economy grew faster than expected in the second three months of the year, as engineering and architecture expansion offset drought impacts.
Wall St rallies to new records
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After-effects of recession linger on
When Lehman Brothers collapsed and the United States' financial system went from unstable to critical, New Zealand was already in recession.
Loan limits boost youth interest
There's been a big jump in the number of younger people trying to get mortgages ahead of new Reserve Bank low-deposit lending rules, says credit agency Veda.
Interest rates hike case building
The case for higher interest rates gained more weight today after subtle shifts in the Reserve Bank's language were interpreted as being more hawkish.
Auckland house prices flat in August
Is the pressure easing on the Auckland housing market? One economist thinks so, after the latest stats showed a largely flat property market.
Index shows export commodity prices up 26pc
Export commodity prices rose 0.7 per cent last month in both world price and New Zealand dollar terms.