A 100-year-old woman and her daughter-in-law were rescued from the rubble of an historic homestead, while her son tragically did not make it.
The Reserve Bank of New Zealand this morning reduced the Official Cash Rate (OCR) by 25 basis points to 1.75%.
Reserve Bank Governor Graeme Wheeler said the below in a statement:
New Zealand households increased their mortgage debt by a net $19 billion or 9.2 per cent in the year ended August.
The Reserve Bank of New Zealand (RBNZ) today has left the official cash rate (OCR) on hold at 2%.
RBNZ governor Graeme Wheeler made the below statement this morning, hinting that further policy easing may be necessary down the track.
Markets are expected to remain choppy in the lead-up to this week's much awaited meeting of the US Federal Reserve.
A more than two-month stretch of calm came crashing to an end this month as fears emerged that America's central bank may announce a rate hike on Thursday (NZ time).