AMP Wealth Management has reported a 16% profit drop in the first half of its 2020 financial year, which it said was due to the proactive closure of two legacy schemes, the conclusion of cost-sharing arrangements with AMP Life and the impacts of Covid-19.

Home loan rates are already at record lows, but economists at ASB predict interest rates will plummet even further in the coming months.

Financial advisers are adjusting to a return to life at higher alert levels.

Reserve Bank governor Adrian Orr says the mortgage deferral programme will be extended beyond September, as the Covid-19 pandemic regains a grip on New Zealand.

Economists have welcomed the expansion of the Reserve Bank's quantitative easing programme, and say a negative official cash rate is more likely than ever following this week's Covid-19 outbreak.

The Reserve Bank of New Zealand has kept the official cash rate at 0.25%, but has boosted its quantitative easing programme to push down interest rates. Here's what the central bank said:

Partners Life has reported another year of positive growth and explains how Covid-19 has impacted the business.

Mortgage advisers are preparing to run their businesses under lockdown once again as Auckland goes into alert level three at midday. 

ASB Bank profits dropped by 20% in the year to June as the effects of the Covid-19 pandemic took hold.

Gold has soared through a record price this month and there are predictions it could go even higher over the next year as the effect of Covid-19 is felt around the world.

Adviser group Loan Market has drafted more than a dozen new advisers to build its growing presence across the country.

New data shows that New Zealanders with financial advisers are better off and more confident in their financial lives.