Here are the key things you need to know before you leave work today.
TODAY'S MORTGAGE RATE CHANGES
There are no rate changes to report today.
TODAY'S DEPOSIT RATE CHANGES
There are no TD rate changes to report either.
ONLINE RETAIL SPENDING STRENGTHENS
BNZ reports online retail spending was up 9% in February this year compared to February 2014. Sales in specialised food (confectionery, small goods and health supplements) increased the most, followed by entertainment (including downloads), and electrical and electronic appliances. Online purchases from domestic markets were up 6% on spending levels last year, which is similar to the growth in spending at physical stores. Spending at international sites was up 13%.
HOME LOAN AFFORDABILITY
Housing remains affordable for first home buyers in all parts of the country except Auckland, according to the latest AMP360 Home Loan Affordability Report. Mortgage repayments would take 47.7% of first home buyers' incomes in the Auckland region, compared to 8.6% in Wanganui - the country's most affordable region.
BRIBERY AND CORRUPTION
A Deloitte report reveals bribery and corruption is on the rise in New Zealand. Of the 269 public and private sector organisations interviewed, 23% reported experiencing one or more known instances of domestic corruption in the last five years.
FRAUD REFORMS
Associate Minister for Social Development Jo Goodhew has welcomed news that since benefit fraud reform initiatives began two years ago, up to $60 million of taxpayers’ money has been saved.
NORTHLAND BY-ELECTION
A 3 News-Reid Research poll has NZ First leader Winston Peters well ahead of National's Mark Osborne in the lead up to Saturday's by-election. Peters received support from 54% of respondents, compared to Osborne who received support from 34%.
GOLD PRICE ADVANCES
The gold price has advanced for six straight days, which is the longest series of gains for the metal since August 2012. This has been attributed to the recent run of poor data out of the US and some nervousness among investors.
WHOLESALE RATES
Wholesale swap rates rose 3 basis points across the yield curve following similar moves in offshore markets overnight. The 90 day bank bill rate remains at 3.64%.
NZ DOLLAR CLIMBS
Check our real-time charts here. The NZ dollar fell against the major currencies today and is now trading at 75.8 USc, at 97 AUc. The TWI is at 80.3.
You can now see an animation of this chart. Click on it, or click here.
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