Two influential business confidence surveys out yesterday did
not provide cause for celebration, although investors seemed
slightly more confident than they were at the end of June.
ASB has become the first bank to hike its floating mortgage
rate after the Reserve Bank of New Zealand raised the
official cash rate by 25 basis points to 3 percent on July
29.
New Zealand's current account deficit was much wider than
expected in the year ended December but economists remain
positive about economic growth prospects.
A former bank investment adviser who stole nearly $18 million
and then spent $3.4 million of it on two sex workers will
spend at least four years in jail.
