Hundreds of thousands of mortgage holders could get a shock as rising interest rates start to bite in the next 12 months.

[What the bank said] The Reserve Bank has increased the official cash rate in a bid to reduce monetary stimulus.

Lindsay Wright has stepped down from the board of directors at Smartshares and has been replaced by the chief financial and corporate officer of NZX Limited.

The Reserve Bank (RBNZ) has started consultation on debt-to-income ratios, but added a new, and more sensible option.

The Financial Markets Authority has released three new self-assessment tools to help financial advice providers (FAPs) prepare for full licensing.

Not-for-profit Kiwi health insurer Accuro Health Insurance has joined forces with the Wellington-based Life Flight Trust and is now its principal air ambulance supporter.

ANZ has joined BNZ and Kiwibank in cutting back on low-deposit loans for houses.

Forsyth Barr has created a new role for a former NZ Super Fund investment strategist to meet the growing demand for advice and solutions for environmental, social and governance (ESG) based investments.

It will not lend money to owner-occupiers who do not have at least a 20% deposit. An exception will be made for newly-built property.

Economists are sure the Reserve Bank will increase the official cash rate this week, but are divided on the size of the increase.

Nuclear weapons production and the manufacture of nicotine alternatives will no longer be permitted in investment products certified by the Responsible Investment Association Australasia (RIAA).

The Reserve Bank’s Head of Economics and Chief Economist, Yuong Ha, is to leave next year after 25 years with the bank.