RBNZ Archives - The Industry Spread

Asian Equities Rebound, Gold Breaks Above 1,500

August 8, 2019

Asian stocks rebound today after better trade numbers from China for the month of July and despite the recent escalation in US-China trade tensions, while USDCNH breaks above the 7 level. The Nikkei225 finished 0.50 percent higher at 20,618, the Hang Seng trading 0.59 percent higher at 26,151. The Shanghai Composite ended 1.02 percent higher to 2,797, while in Singapore the FTSE Straits Times index finished 0,44 percent lower to 3,171.

NZDUSD Slumps after RBNZ cut Interest Rates

August 7, 2019

Asian stocks continue lower today as trade war tensions escalate after People’s Bank of China took steps to steady the yuan, Wednesday’s yuan fixing was weaker, and just shy from the key 7 per USD level, keeping markets nervous about China’s next move. China let USDCNH break through the 7 levels on Monday for the first time in 11 years.

Banks Commit to Removing Sales Incentives for Frontline Staff

July 1, 2019

The FMA and Reserve Bank of New Zealand said today that all banks had committed to remove sales incentives from frontline staff and their managers. Last year’s report by the FMA and RBNZ on banking conduct and culture required banks to outline their plans to remove sales incentives in line with the following criteria

Safer banks and strengthened bank accountability

June 25, 2019

The Coalition Government today announced moves to make New Zealand’s banking system safer for customers through a new deposit protection regime, and work to strengthen accountability for banks’ actions.