The move followed last week's decision by the Reserve Bank to hold the official cash rate at 2.25%.
New Zealand
7:36am
1:31
New data shows Canterbury and Otago lead the savings stakes, with Auckland and Northland trailing the rest of the country.
Tue, Feb 24
Kenneth, who wanted to be identified only by his first name, said he moved with his family from Auckland to Australia in January last year.
1:32
Some parents returning to work are facing childcare bills of $15,000 or $20,000 a year, and the industry is warning that bills could rise.
Six figures used to mean a comfortable life across the Tasman, but not now, writes Christopher Hoy.
Mon, Feb 23
Anna Breman said inflation expectations have been rising among economic forecasters and businesses - something she is not happy about.
Business
Sun, Feb 22
You won't stick with the packed lunch resolution if your lunches are drab and predictable. Alice Taylor serves up some irresistible suggestions.
Life
Frances Cook outlines four financial choices you're unlikely to regret, even if they deplete your bank account.
Households spending more than a third more on utility bills than they did a year ago do not have much money left for fun stuff, Kiwibank economists say.
Sat, Feb 21
Kelly Eckhold, chief economist at Westpac, said it was likely that all else being equal, pay rises this year would be lower.
Fri, Feb 20
A man had created a cryptocurrency wallet and shortly afterwards was targeted by scammers who instructed him to open it and transfer the cryptocurrency to them.
Thu, Feb 19
It's new Reserve Bank Governor Anna Breman's "debut against the New Zealand inflation dragon", says ASB economist Wesley Tanuvasa.
Wed, Feb 18
Three tickets sold in Paraparaumu, Greymouth and on MyLotto share the $15 million prize, with each winner taking home $5.08m.
Sun, Feb 15
A technology change has left some tenants wondering when they'll get their money back.
Thu, Feb 12
Both banks have reduced their six‑month mortgage rate while raising some others, citing rising wholesale funding costs and ongoing pressure in fixed‑rate markets.
Mon, Feb 9
The metal's price rallied another 2.1% last week and briefly topped $8533 per ounce to set another record.
Wed, Feb 4
Insurance and Financial Services Ombudsman Karen Stevens said models that were more frequently stolen were likely to be more expensive to insure.
Tue, Feb 3
Borrowers looking to fix for longer terms will face higher rates
The moves follow adjustments by other banks.
One hypothetical scenario could have a household getting an interest saving of a little over $300 a month.
Mon, Feb 2
Buyers are moving away from "do-up" and experts are divided on how much value people hope to add.
Fri, Jan 30
The changes will be effective on Monday, February 2, the bank said.
Thu, Jan 29
The 2025 year ended with solid returns for KiwiSaver investors – and some change at the top of the performance tables.
Inflation data for the December quarter were stronger than expected, prompting questions about whether interest rates might have to start to rise again earlier than expected.
Wed, Jan 28
There were 58,460 withdrawals for hardship reasons in 2025 – 10,000 more than were made for a first home.
