Chris Baker has joined Orakei based Ken Holmes Financial Services as an adviser specialising in investment and small to medium enterprises.

Auckland

The Official Cash Rate (OCR) remains unchanged at 2.5% this morning. Below is governor Alan Bollard's speech from the Reserve Bank press conference.

Reserve Bank Governor Alan Bollard kept the official cash rate unchanged at a record low 2.5%, as expected, and dropped wording in his statement that rates could fall further, stoking speculation borrowing costs will rise sooner as the economy recovers.

Southern Cross Medical Society is considering extending its product range to provide critical illness cover.

Wellington

Eight companies boosted their 12-month rates as competition for deposits continues to run unabated by rising fixed mortgage rates.

KiwiSaver membership reached almost 1.2 million people in its second year, a growth of 54%, according to figures released by the Inland Revenue Department (IRD).

University bond offer raises $15 mill in first week; Allied Farmers drops hint it will mop up rural lenders; Marac in good shape after Pyne Gould finishes capital raising; Sky TV resets interest rate on bond.

New EMERGE fund for Liontamer; Cohen & Steers launches global infrastructure fund; Allied Nationwide partners with rural finance company; ANZO manager to re-think fees

This week we learnt a bit more about what the price of advice will be under a regulatory regime.

Expectations that the Reserve Bank will hoist the Official Cash Rate ahead of its predictions of late 2010 are continuing to gain momentum.