Complaints about mortgage, insurance and wealth advisers made up the largest number of cases investigated by Financial Services Complaints Ltd (FSCL) in the year to the end of last month.

An ageing population is expected to continue putting downward pressure on neutral interest
rates and house prices could increase, a RBNZ briefing paper reveals.

Banks have lobbied themselves another profit centre under open banking, which could kill fintech innovation, Sam Stubbs of KiwiSaver Simplicity says.

Adding to the RBNZ’s cautious OCR approach and pause on cuts this month is the full impact of the large interest rate reductions over the past year is yet to be felt.
 

Even though the OCR didn’t budge yesterday, a sizeable chunk of mortgage holders are expected to keep fixing at floating rates in the hope there will be further cuts.

Regulatory reform is needed to support improved competition and innovation across the banking sector, TSB says.

Kiwi Adviser Network's one authorised body is moving to SHARE, but will keep aggregating through KAN.

Falling interest rates might not be sufficient to boost spending, the BNZ says.

Common expectations among economists is the OCR will not budge from 3.25% at next week’s RBNZ meeting.

Data from credit bureau Centrix and the RBNZ show different pictures for mortgage arrears.

Advisers already under pressure over bank turnaround times and the rising number of mortgage applications can expect more of the same as house prices flatten.

As turnaround times at the major banks show little sign of improvement, FAMNZ wants clear service level agreements introduced.

Mortgage lending in May was back to March levels at $8.6 billion after taking a dip in April. Two years ago, that figure was $5.8 billion.

ASB economists say the extent of further interest rate falls is now up in the air and the OCR could bottom out at 3%.

BNZ is offering small businesses unsecured loans of up to $50,000 on digital only applications through its new Merchant Flexi Loan.

Kiwibank is stepping out of its comfort zone and starting a new lending programme for start-ups.