Westpac last week lowered some of its short-term fixed interest rates, and today has gone the opposite way and increased longer-term rates.

The Investment Savings and Insurance Association (ISI) has appointed former Prime Minister Jenny Shipley as an independent director of the ISI board.

Parliament has passed a major omnibus tax bill into law which clears up rules around payouts to the estates of deceased KiwiSaver members.

A theme emerging from economists yesterday was that the easing cycle is over and the next move in the official cash rate will be up. These increases are likely to be earlier and bigger than many anticipate.
ASB economist Jane Turner expects the Reserve Bank will hike by June next year and the risks are skewed to an earlier start.

Fidelity has replaced ING as one of its fixed interest managers and instead given the $34 million mandate to Grosvenor Financial Services.

South Canterbury Finance (SCF) has been placed on CreditWatch negative by Standard & Poor's (S&P).

Annabel Cotton has finished her short reign as Commissioner of Financial Advisers and been replaced by a Kiwi who has been heavily involved in financial services regulation in the United Kingdom.

Macquarie Private Wealth New Zealand has signed up two new investment advisers to its growing advice business, with Alistair Ross and Kristan Mines joining the team.

Marlin board commissions report; Barramundi warrants up for expiry; Wellington Drive to raise $8.5m; Diversified PIE fund reports positive returns; SRI strategies for retirement falling short; Changes to Securities Regulations in brief

Fiji

Deposit war muted as mortgage rate cuts take centre stage; Demand for high grade fixed securities ‘very high', ASB says; Pyne Gould slaps down speculation over capital raising. 

Investors looking to exit their good quality corporate bond issues should consider doing so now, as prices are good.

The big story of the week has been about capital gains tax and property. It's one of those odd stories in the way it has rolled out and gathered a life of its own.