Kiwibank is the next to cut most fixed rates. Details here<\/a>. Also cutting was the Co-op Bank, and General Finance. Then late in the day, Westpac went again<\/a> trimming a bit more from their fixed rates. All rates are here<\/a>. And note, you can compare mortgage offers with our new calculator that takes into account other costs and cashback incentives, here<\/a>.<\/p>\n
TERM DEPOSIT\/SAVINGS RATE CHANGES ALMOST UNIVERSALLY AFFORDABLE NOW’S GOOD LENDING CROWD RE-LAUNCHES BACKYARD HOUSING TO BE MADE EASIER NZX50 TURNS FIRMISH BIG DEMAND, LOWER YIELDS FEWER EMISSIONS ALL ROUND SWAP RATES ON HOLD EQUITIES MOSTLY LOWER AGAIN OIL UP CARBON PRICE SOFT GOLD RETREATS SLIGHTLY NZD MARGINALLY SOFTER BITCOIN DIPS AGAIN Select chart tabs<\/p>\n US$ Select chart tabs<\/p>\n 1 year % \n This soil moisture chart is animated here<\/a>.<\/p>\n Keep abreast of upcoming events by following our Economic Calendar here \u00bb<\/a>.<\/p>\n
Both Westpac and the Co-operative Bank cut rates today. And we have summarised where TD rates have landed, here<\/a>. All updated term deposit rates less than 1 year are here<\/a>, for 1-5 years, they are here<\/a>.<\/p>\n
Our September update of our Home Loan Affordability research<\/a> shows house buying is now the most affordable it has been for first home buyers in more than four years – in all parts of the country except Tauranga, Queenstown and certain parts of Auckland. It’s a situation we worried we would never get to, but falling interest rates and falling house prices have really turned things around nearly everywhere. And the new drive for more intensive housing in the inner Auckland suburbs that are currently ‘heritage’ and ‘leafy’ will likely help as well.<\/p>\n
With an economy mired in the doldrums, it is vital that reporting on what is happening stays comprehensive, open and free. We need our Supporters now more than ever<\/a>. If you can support us you can go ad-free too.<\/p>\n
Peer-to-peer platform Lending Crowd<\/a> has relaunched for personal lending, offering secured and unsecured loans from $2,000 to $200,000. At this stage, all loans are being funded solely by majority shareholder Finance Direct, a licensed non-bank deposit taker covered by the Depositor Compensation Scheme (DCS). Direct investor options are promised in the future.<\/p>\n
Legislation passed today will allow from early 2026 construction of a single-storey, granny flat up to 70 m2 without needing a building consent<\/a> if the design is simple and complies with the Building Code, construction is completed or supervised by licensed professionals, and the homeowners notifies their local council before they commence building and once it is completed. The exemption will only apply to granny flats built after the new law and regulations come into effect. Any construction started before commencement will still require a building consent.<\/p>\n
As at 3pm, the overall NZX50 index<\/a> was firmer in its Thursday session, up +0.3% so far. That puts it -0.3% lower over the past five working days. It is up +2.2% year-to-date. From a year ago it is now up +4.4%. Market heavyweight F&P Healthcare is down -1.7% today. Vista, F&P Healthcare, Heartland and Kathmandu lead the gains, but Gentrack, Briscoes, SkyTV, and Serko weigh on the index.<\/p>\n
There were more than 150 bids at today’s three-part NZGB bond tender<\/a> and they bif almost $1.8 bln for the $450 mln available (although demand was marginally less than at the previous two events). In all three cases, yields dipped from the prior equivalent event for the same maturities.<\/p>\n
A recession can be good for some things, like our emissions lels. StatsNZ reported<\/a> that on a s.a. basis total emissions, for all industries and households, were down -1.5%, or -287 kilotonnes (kt) of carbon dioxide equivalent, in the June 2025 quarter (compared to the March quarter. If we look at their actual data, total emissions were 17,173 KT or CO2 emissions equivalent in the June quarter, down -4.0% from the same quarter in 2024. Household emissions fell only -1.5% however. Ag sector emissions fell -1.1% on that basis, a -94 kt drop. Manufacturing’s emissions fell -165 kt, and the electricity & gas sector fell -353 kt. One of the few sectors not to record a decrease was the commercial transport sector, but they didn’t cause an increase either. Only household transport generated an increase in emissions on this basis.<\/p>\n
Wholesale swap rates<\/a> are will likely be little-changed today across the board. Keep an eye on our chart<\/a> below which will record the final positions closer to 5pm. The 90 day bank bill rate was unchanged on Wednesday at 2.52%. Today, the Australian 10 year bond yield is up +1 bp from yesterday at 4.12%. The China 10 year bond rate is unchanged at 1.77%. The NZ Government 10 year bond rate is little-changed at 3.99%. The RBNZ data is now all delayed with Wednesday’s rate down -1 bp to 3.96%. The UST 10yr yield is down another -1 bp at 3.95%.<\/p>\n
The local equity market is now up +0.3% in Thursday trade so far. However, the ASX200 is little-changed in afternoon trade. Tokyo has opened down -1.2%. Hong Kong is down -0.7% at its open. Shanghai is also down -0.7% to start their Thursday trade. Singapore is up a minor +0.1% at its open. The Wall Street ended its Wednesday trade down -0.5% on the S&P500.<\/p>\n
The oil price in the US is up +US$2.50 to just under US$60\/bbl and the international Brent price is now just on US$64\/bbl.<\/p>\n
There have been very few trades again today and the price has moved to $55\/NZU. The next official carbon auction is on December 3, 2025 and likely heading for another failure. See our daily chart tracker<\/a> of the NZU price for carbon, courtesy of emsTradepoint<\/a>.<\/p>\n
In early Asian trade, gold is down another -US$17 from this time yesterday, now at US$4074\/oz.<\/p>\n
The Kiwi dollar is down -10 bps from this time yesterday at 57.3 USc. Against the Aussie we are down -10 bps at 88.4 AUc. Against the euro we are also down -10 bps at 49.4 euro cents. This all means the TWI-5 is down -10 bps at 61.9.<\/p>\n
The bitcoin price is now at US$108,139 and down -0.3% from this time yesterday. Volatility has again been low, at just under +\/- 1.0%.<\/p>\n
\n AU$
\n TWI-5
\n \u00a5en
\n \u00a5uan
\n \u20acuro
\n GBP
\n Bitcoin<\/p>\n
\n 2 years %
\n 3 years %
\n 4 years %
\n 5 years %
\n 7 years %
\n 10 years %<\/p>\n
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