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Frugality Urged As Council Rates Leap Ahead Of Inflation

Wellington, Jan 29 NZPA - With local authority rates rising last year at three times the rate of inflation, a business-oriented lobby group says ratepayers expect more frugality from councils this year.

Borrowing Methods Changing, According To Credit Company

Borrowing Methods Changing, According To Credit Company
Wellington, Jan 29 NZPA - New Zealanders are choosing to purchase goods and services by way of hire purchase or personal loan rather than a credit card, according to the latest data from credit company Veda Advantage.

Debate Over Timing Of Next Rate Rise

Wellington, Jan 28 NZPA - Bank economists are divided on when the Reserve Bank will next hike the official cash rate (OCR), and by how much, after Reserve Bank Governor Alan Bollard kept the rate at 2.5 percent today.

OCR Unchanged, Bollard Sticks To Script

OCR Unchanged, Bollard Sticks To Script
Wellington, Jan 28 NZPA - Reserve Bank governor Alan Bollard, as widely predicted, has left the official cash rate (OCR) at 2.5 percent today.

OCR Remains Unchanged

OCR Remains Unchanged
Wellington, Jan 28 NZPA - The Reserve Bank left the official cash rate at 2.5 percent in its first monetary review for 2010 today.

Home Detention For Document Doctoring

Wellington, Jan 21 NZPA - Using scissors and a photocopier to make fake documents has led to home detention and community work for a mortgage broker.

Tax Changes Recommended

Tax Changes Recommended
Wellington, Jan 20 NZPA - The Tax Working Group has recommended a range of comprehensive tax changes including a method of taxing capital gains on residential rental properties.

New Year Time To Highlight Emerging Leaders

New Year Time To Highlight Emerging Leaders
Auckland, Jan 1 NZPA - The Governor-General Sir Anand Satyanand sees the New Year as a fitting time to highlight the country's emerging new leaders.

Financial Resolutions A Good Idea - Retirement Commission

Financial Resolutions A Good Idea - Retirement Commission
Wellington, Dec 30 NZPA - Setting a financial goal as a New Year's resolution will put you in charge of your money and your life, the Retirement Commission says.

Banking Tax Settlement `Good For Both Sides'

Banking Tax Settlement `Good For Both Sides'
Wellington, Dec 24 NZPA - A $2.2 billion stocking filler tax settlement is something of a win-win for both the Government and the country's four main banks on the eve of Christmas, says a banking academic.

Kingston Flyer Still Unsold

Kingston Flyer Still Unsold
Wellington, Dec 24 NZPA - Central Otago's historic Kingston Flyer steam train has failed to sell.

Cabinet To Consider Rescue Plan For Owners Of Leaky Homes

Wellington, Dec 23 NZPA - The Government is moving on with its plans to help leaky home owners and it is up to councils whether they participate or not.

Houses Less Affordable In Auckland, Northland

Houses Less Affordable In Auckland, Northland
Wellington, Dec 18 NZPA - A measure of home loan affordability shows almost no change overall in November, although affordability worsened in Auckland and Northland and for first home buyers.

How Tax System Changes Could Cut House Values

How Tax System Changes Could Cut House Values
Wellington, Dec 16 NZPA - Westpac economists taking a stab at the impact of possible tax changes on house values reckon the decline could be as high as 34 percent.

NZ Rates Left At 2.5 Percent, Reserve Bank Hawkish

NZ Rates Left At 2.5 Percent, Reserve Bank Hawkish
Wellington, Dec 10 NZPA - The Reserve Bank left interest rates unchanged, but its comments surrounding the decision were more hawkish than many economists expected.

NZ OCR Unchanged At 2.5 Percent

NZ OCR Unchanged At 2.5 Percent
Wellington, Dec 10 NZPA - Reserve Bank Governor Alan Bollard has left official interest rates unchanged at 2.5 percent, but is now indicating the first rate rise could be as soon as the middle of 2010, and looks to be giving himself even more flexibility.

Scrap Taskforce 2025, Goff Says

Scrap Taskforce 2025, Goff Says
Wellington, Dec 3 NZPA - The 2025 Taskforce set up to find ways to catch up with Australia's economic growth should be scrapped, Labour Leader Phil Goff says.

Significant Risks Still Facing Economy, NZIER Says

Significant Risks Still Facing Economy, NZIER Says
Wellington, Dec 1 NZPA - The economy still faces significant risks despite being out of recession, the New Zealand Institute of Economic Research (NZIER) says.

Blue Chip Investors Lose Second Court Battle

Auckland, Nov 28 NZPA - Investors in failed property company Blue Chip have suffered a second setback in the High Court.

Spending On Housing Unchanged, Rent Spending Up, Mortgage Down

Wellington, Nov 26 NZPA - Average weekly spending on housing was unchanged in the year to June, Statistics New Zealand (SNZ) says. The household economic survey put average weekly housing cost spending at $231, while the median was $156.

Striking Miners Back To Work On Saturday - Union

Striking Miners Back To Work On Saturday - Union
Wellington, Nov 19 NZPA - About 800 striking miners will return to work at Solid Energy's four main coal mines on Saturday, as their contract bargaining is set to resume.

Kingston Flyer Train, Stations, Tracks For Mortgagee Sale

Kingston Flyer Train, Stations, Tracks For  Mortgagee Sale
Wellington, Nov 17 NZPA - The historic Kingston Flyer train, stations and railway line are being sold by receivers.

ANZ Economists Expect Tightening Of Tax Rules Affecting Property

ANZ Economists Expect Tightening Of Tax Rules Affecting Property
Wellington, Nov 16 NZPA - Some tightening of tax rules surrounding property is inevitable, ANZ economists say. In ANZ's weekly Market Focus newsletter, they said that while prices in the housing market may be up, volumes and average days to sell had stabilised in the past few months.

RBNZ Governor Warns Of Property Boom Risks

RBNZ Governor Warns Of Property Boom Risks
Wellington, Nov 11 NZPA - Reserve Bank Governor Alan Bollard continues to warn of the risks of another property boom, pointing to the need to ensure the tax system does not advantage investment in property.

Inquiry Hits Out At Australian-Owned Banks For Profit-taking

Inquiry Hits Out At Australian-Owned Banks For Profit-taking
Wellington, Nov 11 NZPA - A parliamentary banking inquiry by Labour, the Progressives and the Greens found banks did not pass on the full effect of reductions in the official cash rate (OCR) to their customers, Labour finance spokesperson David Cunliffe said today.

Kingston Flyer Owners In Receivership

Wellington, Nov 11 NZPA - The troubled Kingston Flyer Steam Train company has been placed in receivership.

Business Defaults Rise Strongly, Says Veda Advantage

Business Defaults Rise Strongly, Says Veda Advantage
By Paloma Migone of NZPA Wellington, Nov 5 NZPA - More and more businesses are defaulting on loans and lines of credit, explaining why the government's corporate tax take is down.

Westpac Says Committed To NZ After Profits Halve

Westpac Says Committed To NZ After Profits Halve
Wellington, Nov 4 NZPA - Westpac is underlining its commitment to New Zealand after a "challenging and disappointing" year in which the bank's cash earnings halved to $236 million.

Reserve Bank Cools Expectations For Official Cash Rate Hikes

Reserve Bank Cools Expectations For Official Cash Rate Hikes
Wellington, Oct 29 NZPA - Reserve Bank Governor Alan Bollard today sent markets a clear message that they have been expecting a rise in the official cash rate (OCR) too soon.

OCR Unchanged At 2.5 Pct

OCR Unchanged At 2.5 Pct
Wellington, Oct 29 NZPA - The Reserve Bank left the official cash rate (OCR) unchanged at 2.5 percent but indicated the first rate rise off historic lows could be sooner than previously expected.

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