The Reserve Bank's decision to press the Government for action on the overheating Auckland house market is an admission of its own powerlessness

Short headline:  Reserve Bank's cry for help Tweet By David Hargreaves I suppose everything has precedents when you look back far enough – but I can't readily recall the Reserve Bank previously putting such public pressure on a Government to do something about a specific problem. The speech by the RBNZ Deputy Governor (and Head of Financial Stability) Grant Spencer, …

A review of things you need to know before you go home on Wednesday; HSBC's final fling, RBNZ wants help, BNZ embraces brokers again, China slows, swap rates very flat, NZD jumps

Short headline:  What happened today Tweet Here are the key things you need to know before you leave work today. TODAY'S MORTGAGE RATE CHANGES HSBC today announced two changes. First it said its market-leading 5.29% Premier offer will end on May 1. And it also introduced a $2,000 cash incentive between now and the end of the month. TODAY'S DEPOSIT …

Reserve Bank calls on Govt to rethink housing tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland…

NZ on Air didn't know grant would mean TV3 news cut

New Zealand On Air says it was unaware that its funding of the new 3D Investigates programme would lead to TV3 cutting half an hour off 3News on Sunday nights.The unexpected effect of taxpayer funding leading to a cut in daily news…

Two new Boeing C-17s to cost NZDF $600m

Two new Boeing C-17 aircraft will set back the New Zealand Defence Force at least $600 million, the Government has been advised.The Boeing C-17 Globemaster is being considered as a replacement for the aging fleet of Hercules C-130s,…

Billion dollar mega-ship sets sail for NZ waters

A new generation billion dollar plus mega cruise ship is heading for New Zealand and plans to call at ports throughout the country.Royal Caribbean's Ovation of the Seas will be in New Zealand and Australian waters next year…