Reserve Bank governor Alan Bollard has left interest rates unchanged, saying that although the inflation outlook has worsened, it would be wrong to counter short-term pressures with monetary policy.

Nobody is expecting any change in the official cash rate (OCR) when Reserve Bank governor Alan Bollard releases his latest monetary policy statement on Thursday but most economists believe he will cut the rate at least once before year end.

Taranaki-based TSB Bank held its share of the mortgage market steady in the March quarter while its profitability improved from a relatively depressed December quarter.

Bank of New Zealand is the clear winner in the mortgage market price war, even though its market share hasn't budged in the last year, according to managing director Peter Thodey.

Westpac New Zealand has come through the mortgage market price war much better than everyone else expected, although it has been through "some absolute highs and lows," says chief executive Ann Sherry.

As expected, Reserve Bank governor Alan Bollard left his official cash rate (OCR) unchanged and ruled out any rate cuts this year.

Economists are not expecting the Reserve Bank to cut the official cash rate this week, and they have a range of views about when the bank will start to ease monetary policy.

For a second consecutive month, annual house price inflation abated in March, although it still remains in double digits, according to Quotable Value’s figures.

Corporate activity in the New Zealand and Australian share markets are providing bumper returns for share funds.

Westpac’s profit fell sharply in the December quarter as its tax bill jumped while ASB Bank’s profit grew strongly and it continued to increase its share of the mortgage market.

Bank of New Zealand continued to lose a small amount of mortgage market share in the December quarter although its profit grew 18.8%.

Kiwibank is to buy a 51% stake in New Zealand Home Loans for about $8 million.

The New Zealand Mortgage Brokers Association is keeping an open mind on regulation and will consider all options.

Superbank continued to grow both its mortgage book and deposit base in the three months ended December and pared its losses significantly from the same three months a year earlier.

Reserve Bank governor Alan Bollard produced few surprises in leaving interest rates unchanged and firmly ruling out any easy this year.

The New Zealand Mortgage Brokers Association is having trouble collecting its first advertising levy from members which is needed to pay for the current high-profile television advertising campaign.