RBNZ likely to remain sanguine about arrears

RBNZ likely to remain sanguine about arrears
Reserve Bank governor Adrian Orr says some short-term pain is necessary to bring down inflation. (Image: BusinessDesk)
Rebecca Howard
The Reserve Bank of New Zealand will likely remain sanguine about increasing pain for mortgage holders in this week’s financial stability report.ASB Bank chief economist, Nick Tuffley said: “We expect that the RBNZ [Reserve Bank of NZ] will reiterate the resilience of the NZ financial system overall but will likely note again that there will be pockets of households and businesses who are under added financial stress,” said The Reserve Bank will release the six-monthly report at 9am on Wednesday.ArrearsData from credit bu...

More Economy

Nearly $2b worth of ANZ mortgages overdue
Economy

Nearly $2b worth of ANZ mortgages overdue

That's up from $1.5b the year prior.

Riley Kennedy 08 May 2024
Weak red meat prices drop ANZCO Foods' profit nearly 60%
Economy

Weak red meat prices drop ANZCO Foods' profit nearly 60%

But, unlike other major processors, it still managed to turn a profit.

Riley Kennedy 07 May 2024
ANZ increases cash profit as net interest margins get squeezed
Economy

ANZ increases cash profit as net interest margins get squeezed

ANZ New Zealand has reported a 4% increase in its half-yearly profit despite pressure squeezing its margins.The bank's cash profit increased to $1.15 billion in the six months to March, up from $1.1b in the same period last year, but stable compared to the second half of its...

Riley Kennedy 07 May 2024
Beyond the headlines: Jobs data points to a divided NZ
Economy

Cameron Bagrie: Beyond the headlines: Jobs data points to a divided NZ

Greatest challenge is the pressure jump in joblessness puts on society and economy.

Cameron Bagrie 07 May 2024