Find financial news and analysis across NZ and Australia.
50 results for “anz”
ANZ New Zealand faces a potential $125 million payout after the High Court ruled the bank breached the Credit Contracts and Consumer Finance Act. The judgment affects 17,000 customers following a coding error in loan variation letters between 2015 and 2016.
ANZ Group Holdings shares fell 4.3% last week as the banking sector faces a new economic landscape shaped by the RBA's rate hike to 4.35% and federal budget reforms to negative gearing and capital gains tax.
An Auckland man has recovered $19,300 after falling victim to a sophisticated SIM swapping scam that targeted his ANZ bank account. The incident has prompted One NZ to implement a new 15-minute delay on SIM transfers.
New Zealand business confidence fell to -10.6 in April 2026 as record fuel price hikes following Middle East conflict impacted profit expectations and inflation outlooks.
New Zealand business confidence plummeted to -10.6 in April 2026, a 43-point swing from March, as Middle East conflict and fuel supply disruptions trigger a sharp cost shock.
New Zealand house prices are forecast to fall by 2% in 2026 as consumer confidence reaches a three-year low. Despite a marginal monthly rise in April, high inflation expectations and a retreat by property investors continue to weigh on the market.
Auckland's median house price dipped 0.1% to just over $1.04 million in April 2026, contrasting with a 0.1% national increase. High inventory and looming OCR hikes continue to weigh on NZ's largest property market.
New Zealand financial markets are pricing in several 25 basis point OCR hikes as inflation remains at 3.10%, despite a significant divide among major bank economists regarding the timing of future increases.
Australian consumer confidence rose by 2.3 points to 66.4 for the week ending May 18, 2026. Despite the modest recovery, the index remains near historical lows, with only 13% of households considering it a good time to buy major items.
New Zealand's housing market slowed significantly in April 2026, with national sales volumes falling 7.9% annually and the median price dropping to $775,000. Rising inventory levels and anticipated interest rate hikes are contributing to a shift in market dynamics.
The Australian dollar has weakened to 0.72415 as Middle East tensions drive oil prices above $100 per barrel. Domestically, the RBA has raised interest rates to 4.35% while consumer confidence has plummeted to near 50-year lows.
Australian consumer confidence has plunged to 64.1 points, marking its fourth-lowest level since 1973. The 3.1-point drop follows the Reserve Bank of Australia's decision to raise the cash rate to 4.35%.
The Reserve Bank of Australia has raised the official cash rate to 4.35 per cent to combat 4.6 per cent inflation. Major banks including CBA, NAB, ANZ, and Westpac will pass on the full 0.25 per cent increase to mortgage holders.
New Zealand's Q1 2026 employment data is set for release on May 6, with analysts forecasting an unemployment rate between 5.4% and 5.5%.
New Zealand's national median property value rose slightly to $809,101 in April, but a 0.1% decline in Auckland and Wellington highlights a widening regional divide as the RBNZ maintains a hawkish stance.
While national home values rose 0.6% in March 2026, Sydney and Melbourne house prices have entered a quarterly decline as Perth surges 5.7% to record highs.
New Zealand's annual inflation rate remained elevated at 3.1% for the March 2026 quarter, exceeding the RBNZ's 1-3% target band. The central bank has revised its inflation peak forecast to 4.3% amid escalating global oil price shocks and a deeply split monetary policy committee.
Finance Minister Nicola Willis expects banks to absorb the new NZ$209 million prudential levy, but New Zealand's concentrated financial market suggests otherwise. This editorial explores why everyday consumers, rather than highly profitable institutions, are likely to end up paying the bill.
New Zealand's national median home value held flat in May 2026 at $808,187, reflecting a cautious market influenced by high interest rates. Property values remain 17% below their 2022 peak, with key regional centres showing mixed performance.
Global market shifts overnight see WTI crude drop 3% and gold futures rise 0.9%, setting up a mixed trading session for ASX energy and gold shares on Friday, June 5, 2026.
New Zealand’s shift of credit regulation to the FMA and the repeal of director liability under the CCCFA are framed as wins for consumers. However, this editorial argues that stripping personal accountability from financial executives risks exposing vulnerable borrowers to systemic lending misconduct.
New Zealand Finance Minister Nicola Willis has defended a new $209 million prudential levy introduced in Budget 2026. Willis expressed confidence that major banks will absorb the regulatory costs rather than pass them on to consumers.
The S&P/ASX 200 index experienced a significant 1.62% rebound to close at 8,731.70 points on Friday, May 29, 2026. This surge, driven by mining and banking gains, was fueled by hopes of a tentative 60-day US-Iran ceasefire extension.
Finance Minister Nicola Willis has delivered Budget 2026, committing $7 billion in capital funding for key transport, health, and housing projects. The package balances infrastructure catch-up with fiscal prudence amid trimmed growth forecasts.
The Reserve Bank of New Zealand has held the Official Cash Rate at 2.25% after an evenly split committee vote. However, a highly hawkish forward guidance track points to multiple rate hikes starting as early as July.
Sydney's property market is experiencing a rise in unfinished homes listed for sale as homeowners abandon renovation projects. Driven by escalating material costs, labour shortages, and rising interest rates, many are choosing to sell partially completed projects to cut their losses.
The New Zealand Exchange's benchmark NZX50 index gained 0.4% on Monday, driven by positive performances from Auckland Airport, Air New Zealand, and Contact Energy. The lift comes amid broader economic challenges, including elevated inflation and high fuel costs.
KiwiSaver early withdrawals reached $229.6 million in April 2026. While first-home buyers made up the bulk of the total value, 4,410 New Zealanders withdrew $38.5 million due to severe financial hardship.
Australia's capital city auction clearance rate has plunged to 50.4%, the lowest level since the onset of the COVID-19 pandemic in May 2020. Led by steep declines in Sydney and Melbourne, the housing market has shifted into a correction phase amid rising interest rates and tax changes.
While Auckland and Wellington struggle with house prices significantly below their historical peaks, Christchurch is showing remarkable resilience. Strong internal migration and solid first-home buyer demand continue to support the local Canterbury market.
Commonwealth Bank has issued a critical alert warning investors of sophisticated 'pump and dump' schemes using AI deepfakes and fake social media ads to target Australians.
New Zealand exports climbed to a record $8.6 billion in April 2026, delivering a historic $1.9 billion trade surplus. Strong international demand for meat, gold, dairy, and crude oil offset rising global economic uncertainties.
New Zealand's seasonally adjusted retail electronic card spending dropped by 1.3% in April 2026, reversing March gains. The broad-based slowdown across consumables, hospitality, and fuel indicates that elevated living costs are significantly dampening household demand.
New Zealand's national median weekly rent rose to $625 in April 2026, marking the first monthly increase since late 2025. While major centres like Auckland and Wellington saw declines, a 5% drop in available properties and an 8% surge in demand are pushing regional rents higher.
The S&P/ASX 200 index rose nearly one percent on Tuesday, recovering from a seven-week low following the de-escalation of geopolitical tensions. Strong performances from Woolworths and Tuas, combined with a slight rise in consumer sentiment, supported the market's much-needed bounce.
Westpac has confirmed the cutting of 193 roles across technology, HR, and retail divisions on May 19, 2026. This follows earlier reports of larger restructuring plans and ongoing digital transformation efforts within the bank.
A proposal to buy back the Bank of New Zealand from National Australia Bank has reignited calls for structural reform in a sector where four banks control up to 85% of the market.
The inaugural State of Competition report identifies financial and insurance services as industries with the weakest competitive pressure, highlighting a 916% rise in insurance premiums since 2000.
The Australian share market experienced a significant downturn on Monday, with the ASX 200 losing over A$30 billion in value. Rising oil prices and a global bond sell-off have intensified concerns over persistent inflation and high interest rates.
New Zealand First has announced plans to automatically enrol newborns in KiwiSaver with a $1000 contribution and buy back BNZ to create a new state-owned national bank.
QR code-based 'quishing' scams have more than doubled in New Zealand, now making up 9.3% of all detected cyber threats. Scammers are currently exploiting a new NZ$2.54 import charge to trick mobile users into visiting fraudulent payment sites.
National Australia Bank has raised its variable home loan rates by 0.25% following the RBA's decision to lift the cash rate to 4.35%. The move marks the third consecutive increase this year, adding significant costs to Australian mortgages.
New Zealand's manufacturing sector slowed significantly in April 2026, with the PMI dropping to 50.5. Escalating costs linked to Middle East conflict are impacting supply chains and new orders.
The Reserve Bank of New Zealand's latest survey shows one-year inflation expectations have surged to 3.41%, the highest in years, signaling a likely OCR hike in July.
The Australian Wage Price Index rose by 0.8% in the March quarter 2026, bringing annual wage growth to 3.3%. This steady growth comes as the Reserve Bank of Australia maintains a high cash rate of 4.35% to combat persistent inflation.
Commonwealth Bank reported a $2.7 billion cash profit for the March quarter 2026, a 1% decline from its first-half average as technology investments and loan provisions rose.
New Zealand achieved a merchandise trade surplus of NZD 0.70 billion in March 2026, a significant turnaround from the previous year's deficit. Record exports of NZD 7.9 billion were driven by strong demand for precious metals and fruit.
New Zealand's property market is bracing for a 2% price decline in 2026, reversing earlier growth forecasts. Rising mortgage rates and record-high inventory levels are driving the shift toward a buyer's market.
The S&P/ASX 200 Index dropped 1.51% on Friday, wiping $50 billion in value as US-Iran hostilities pushed Brent crude oil above $100 a barrel. Major banks and energy stocks fell sharply amid renewed global inflation fears and concerns over future RBA interest rate hikes.
The NZX 50 index closed at 13,175 points on Friday, May 8, 2026, marking a daily decline of 0.72%. Despite the fall, the market secured a 1.7% weekly gain and remains up 4.52% over the past year.