Strong jobs market helps offset rate rises, ANZ’s Watson says

CEO Antonia Watson says people didn't take their eye off the ball when rates were low. (Image: Getty)

Mon, 08 May 2023

The country’s ongoing job creation and rising incomes are helping to offset rising interest rates and limiting the stress on mortgage borrowers, according to ANZ New Zealand chief executive Antonia Watson. The local unit of ANZ took a cautious tone in its outlook when reporting a first-half net profit of $1 billion on Friday, recognising $120 million of credit impairment charges and total provisioning of $860m. Watson said signs of stress are re-emerging, returning to pre-covid levels, and the bank is working with customers who...

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Property

Developer Kurt Gibbons buys Ryman’s Newtown site

The land was formerly the site of Wellington's Tip Top bread factory.

Gregor Thompson 10:30am

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One Night in Bangkok was a hit song from what musical?By inserting an extra letter, what word meaning a small group of trees can be changed to one meaning a dead body?State Highway 2 between Gisborne and Opotiki passes through what gorge?What was the nickname of a 1940s Hollywood...

The Quizmaster 9:15am