Finance
Explore the latest finance news by Business Desk.
Economy
Major banks rush to pass on rate cut to customers
Westpac was the first of the major banks to promise to fully pass on the Reserve Bank's slashing of its official cash rate cut in reaction to what one expert is calling the one-in-200 year event the central bank had been modelling.As well as cutting the OCR from 1 percent to 0.25...
Economy
Insurers largely prepared for covid-19 - RBNZ
Insurers are largely prepared to deal with the fallout from the coronavirus outbreak, says Reserve Bank deputy governor Geoff Bascand. The central bank was satisfied with the response by the nation's lenders when it asked about their risk management plans and general preparations...
Westpac offers $10k interest-free loans as it goes carbon zero
Westpac is offering interest-free loans of up to $10,000 to help its existing mortgage customers reduce their emissions.The "Warm Up" loans can be used to buy heat pumps, solar panels, ventilation and/or double glazing and insulation and have a maximum term of five years.The bank...
Markets
NZ shares bounce back as volatility reigns
New Zealand shares bounced back in early trading with 44 of the top 50 companies in the green.The S&P/NZX 50 Index was up 247.02 points, or 2.3 percent, at 11,144.49 at 11am in Wellington, following a strong lead on Wall Street as the S&P 500 rose 4.9 percent. Investors took hear...
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