Kiwibank, the ANZ Bank and Westpac almost simultaneously
dropped their floating mortgage rates by 0.25%, within
seconds of the Reserve Bank announcing yesterday it was
cutting the official cash rate by the same amount to 2.75%.
The first signs of an economic slowdown are being noticed by
the small and medium sized enterprise (SME) sector in New
Zealand, the latest MYOB Business Monitor survey of more than
1000 businesses nationwide shows.
The Government's campaign to build bridges with the regions
it stands accused of neglecting in its first two terms
started in Southland yesterday with the first of the regional
workshops which will run until October 14.