Category: Business

Source: Radio New Zealand

The finance minister says mortgage holders should shop around after Westpac increased its fixed-term home loan rates.

Westpac is increasing its home loans over two-to five-year terms by 30 basis points, taking a two-year fix to 4.75 percent.

It comes after a period of falling interest rates that the government has made a point of publicising to say its economic plan is working.

Asked about Westpac’s move to increase its rate, Finance Minister Nicola Willis said people should investigate what bank can offer them the best deal.

“My message to New Zealanders is shop around. Westpac have made that choice. Other banks have not.

“I really want to see New Zealanders seeing that they have some power when it comes to where they take their mortgage.

“Don’t just look at the headline rates, go and hold your bank’s feet to the fire. See if another bank will give you a better rate. Make them compete with each other.

“Don’t just accept that you’re getting the best deal right now. Let’s make them compete.”

Prime Minister Christopher Luxon said the wider context was important.

“We’ve been managing spending so we can manage inflation down so we can get interest rates down. For a New Zealander that’s on an average mortgage that’s $10,000 a year of savings that they’ve got through nine interest cuts already under our government.

“Each bank will make its own decision about its assessment of the medium term but the Reserve Bank will continue to monitor that. What’s important is that after a world of twelve interest rate rises, we’ve had nine interest rate cuts.

“Interest rates are relatively low compared to where they sit in other parts of the world now. Inflation is under control and you’re seeing signs of growth in the economy.”

Labour leader Chris Hipkins said Westpac’s higher rate proved the coalition’s economic plan was not working.

“They’ve built their whole narrative around lower interest rates and fixing the economy. They haven’t fixed the economy; unemployment’s gone up, business liquidation’s are up, people in hardship are up, house building has slowed down, the list could go on.

“I think this highlights the problem with the government’s overall economic strategy here. They’re waiting for the Reserve Bank to save them because they haven’t got a plan to tackle the cost of living or to grow the economy.

“Nicola Willis has made this problem for herself. She actually said the Reserve Bank’s one job is to keep inflation within the target plan. They don’t have a remit around employment anymore. They don’t have a remit to grow the economy. That’s the government’s job and they haven’t got a plan to do that.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

One of New Zealand’s major apple growers won’t be sending any shipments to the US as tariffs bite into its profits.

Tariffs on a range of New Zealand exports including apples were first introduced in April at 10 percent, and increased to 15 percent in August.

Whike tariffs were lifted last month on some exports, including beef and kiwifruit, they remain for apples where exports were worth close to $70 million in 2023.

Fifth generation grower, Paul Paynter from Yummy Fruit in Hawke’s Bay, said the 15 percent tariff essentially cancelled out his margins on any exports to the US.

Hawke’s Bay is the largest producer, contributing 64 percent of New Zealand’s total apple volumes.

“Fruit we shipped to the US this year returned probably a dollar less than the costs, so regrettably we have no plans to ship to the US in this current season. Until the tariffs are gone it will be difficult to make a dollar.”

Paynter said the US market was also oversupplied and prices were not good anyway. He was shifting to focus on other markets instead, though there are other challenges.

The other main market for bigger fruit is Taiwan though it is still relatively small and can be oversupplied by rival exporters.

Local AgFirst horticulture consultant, Jonathan Brookes said most growers were busy thinning fruit at the moment.

He said there was some market fluidity at the moment.

“The US market has tended to be overflowing a bit with its own supply. There’s key people in there and doing really well but they’re quite specific.

“A lot of the markets around Asia and beyond are actually doing quite well.”

Brookes said while it was “very variety specific”, for the most parts the markets were “pretty good”

He said harvest was still a long way to go but things were looking good.

Despite the export challenges, Paynter was also optimistic about the coming harvest, with near perfect growing conditions and fruit quality looking good.

He said it had been an even better growing season than the last which was one of the best in many growers’ memory, and was expecting a big crop of large, clean apples from his nearly 600-hectares of orchards in Hawke’s Bay.

In some blocks it was the largest fruit grown in 20 years of record keeping.

“Probably the warmest spring conditions we’ve ever experienced here in Hawke’s Bay and that early heat is what really sets the trajectory for fruit size.”

Paynter expected the coming harvest would start on time early next year.

He said growers had had a rough time since Cyclone Gabrielle but with two strong harvests back to back, growers can graduate from a ‘swimming pool of red ink’ to a bucket and hopefully would be back in black next year.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Financial technology firm Hnry has secured more than $30 million in an oversubscribed raise.

The accounting software firm, which focused on sole traders, said the raise was led by Movac, while long-time backer Icehouse also increased its stake.

The Wellington-based firm had now raised almost $100m since 2018, and Hnry said it now processes nearly 1 percent of the country’s tax take – highlighting its strength in the New Zealand market.

The company was founded by Claire and James Fuller in 2017.

“Hnry is now in New Zealand, Australia and the UK, and in every market we’ve experienced rapid growth,” co-founder James Fuller said.

“In Australia, our market share has grown sevenfold since 2020, and Hnry UK is growing six times faster than our combined Australasian market since launching earlier this year,” he said.

Fuller said the latest funding round would accelerate international growth, support new development across all markets, and the company was “just getting started”.

“Sole traders don’t want to spend hours on admin or be stuck in accounting software each week; they want to focus on growing their business and enjoying work-life balance,” he said.

The raise also marked Movac’s first investment in Hnry.

“We’re excited to support their rapid expansion in Australia and the UK, especially with the UK’s shift to digital taxation presenting a major opportunity to scale,” Movac general partner Jason Graham said.

Graham would join Hnry’s board as part of the round.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Superannuitants are being warned not to fall for a scam that claims they’re in for a pre-Christmas bonus.

A hoax circulating online claims that people who are on NZ Super are to receive a “one-off December bonus” a few weeks before Christmas.

The payment is alleged to be $350 for single people and $560 for couples, as well as an extra $50 for people in Auckland, Wellington and Christchurch and $40 for people with disabilities.

The websites seem to be intended to funnel advertising and possibly collect identity details.

The Ministry of Social Development confirmed that the offer was not real.

“We are aware of fake information being targeted at MSD clients and older people about December bonuses, benefit increases, or changes to NZ Super,” group general manager of client service delivery Graham Allpress said.

“We want to assure people these claims are not true. If you want up-to-date information on your benefit or NZ Super, check the Work and Income website or MyMSD.

“These posts and websites are created by dishonest actors for dishonest reasons, and are always best avoided.”

‘It’s sad when it affects grandparents’

Financial adviser Rachelle Bland, of Cliffe Consulting, said she became aware of it when she had clients get in touch, excited about the possibility of extra money for Christmas.

She said it was disappointing that people were being targeted by the hoaxes.

“It’s sad when it affects grandparents, people trying to make ends meet.”

Meanwhile, BNZ said half of the country’s small to medium businesses had responded to a scam attempt in the past year. For those that suffered an actual breach, the average loss was just over $5000.

BNZ head of fraud operations Margaret Miller said scammers would always find ways to exploit gaps.

“Business owners are alert to the danger, but they are also time-poor and juggling multiple priorities. The reality is that scammers are becoming increasingly sophisticated in their tactics.

“Scammers know that breaking through technical security is difficult, so in many cases they’re bypassing the technology entirely and targeting the person sitting at the keyboard.

“Business owners are generally doing well with technical defences like antivirus software and firewalls, but criminals are going around that, targeting the busy human at the desk who is clearing invoices or answering the phone.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Half of small and medium sized businesses (SMEs) have been targeted by scams over the past year, costing victims an average of $5000 each time.

BNZ said its latest survey indicates a concerning gap in scam defences deployed in SMEs, as nearly half struggled to prioritise scam education and cyber training for staff.

Nearly two-thirds (64 percent) of SMEs said scam activity had increased in the last 12 months, though 45 percent did not consider cyber education a key priority.

“Technology is a vital layer of defence, but an educated team is just as important. When staff feel confident spotting the signs, they become the business’s best asset against scams and fraud,” BNZ head of fraud operations Margaret Miller said.

She said scammers were good at exploiting security gaps. Security could be breached by clicking an email link and opening a message, about 50 percent of the time.

“Business owners are alert to the danger, but they are also time-poor and juggling multiple priorities. The reality is that scammers are becoming increasingly sophisticated in their tactics.”

She said 53 percent of business owners rated themselves as “prepared” for a scam, while the data showed 49 percent of that same group still engaged with a scam attempt.

“Scammers know that breaking through technical security is difficult, so in many cases they’re bypassing the technology entirely and targeting the person sitting at the keyboard . . . targeting the busy human at the desk who is clearing invoices or answering the phone.”

She said the costs to businesses averaged $5000, but the consequences could be more significant.

“Of the SMEs that fell victim to an online scam, 21 percent suffered a business financial loss and 26 percent a personal financial loss, while 30 percent suffered data loss.

“Scammers aren’t just after your business accounts. The data shows they are often successful in targeting personal finances or the business’s data, even if they don’t manage to steal money directly from the company accounts.”

Cold calls and fake invoices on the rise

Miller said the data also indicated businesses were far more likely to be targeted by “old school” deception than high-tech hacks.

While only 2 percent of businesses were targeted by ransomware, traditional deception and social engineering scams were much more prevalent:

• 27% of businesses were targeted by cold calls requesting sensitive company information
• 17% faced bank impersonation attempts
• 10% encountered invoice scams involving altered bank details

“Scammers prey on the fact that when we’re rushed, distracted, or juggling multiple things we’re more likely to act first and think later,” she said, adding there were tools available for businesses to use, such as two-step authentication for logins, and the ability to require two separate approvals for any payment.

“We encourage all business owners to use free resources to upskill their teams – whether that is through the Own Your Online platform operated by the National Cyber Security Centre, Netsafe, or the tailored scam information for businesses available on the BNZ website.

“It is one of the most effective ways to protect your business from financial loss.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Central Wellington has the cheapest homes in the country, property data firm Cotality says, but Newmarket has had the biggest fall in values over the past five years.

It has released its end-of-year data, which it said showed a year of stagnation, with lower mortgage rates helping improve sales volumes but a sluggish economy and weak labour market keeping values down.

Chief property economist Kelvin Davidson said despite an extended “flat patch” for values, there had been activity happening.

“First-home buyers have remained very strong, hovering as high as 28 percent to 29 percent of overall purchasing activity, while 2025 has also seen a comeback by mortgaged multiple property owners.”

The data showed that Herne Bay remained the most expensive suburb in the country, with a median value of $2.6 million. It was followed by nearby Westmere and Ponsonby, at $2.2m, and Remuera at $2m.

Arrowtown and Tamahere, Waikato, were the only suburbs outside Auckland in the top 10 most expensive.

Greymouth had the biggest increase in prices over five years, up nearly 60 percent.

This was closely followed by Somerfield, Christchurch, and Hokitika, both experiencing increases of nearly 50 percent over the same five-year period.

Davidson said most of the places where prices had risen strongly were more affordable to start with, including rural locations, small towns, or lower-priced suburbs within larger main centres.

“There are two outliers, however, which are Jacks Point and Lake Hayes; both high-end suburbs in Queenstown, whose popularity among affluent buyers may have contributed to their stronger growth in 2025,” he said.

“Nowhere is booming but it’s all relative… Invercargill is a good example of that, too. Property has been moving quickly in Invercargill. There’s certainly a degree of resilience around Invercargill and that wider southern area.”

The biggest price fall in a year was in Oneroa, Auckland, down 7.9 percent in a year. It was followed by Omaha down 5.7 percent. Atawhai, Nelson was the only non-Auckland suburb in the top 10 lowest value movements.

Newmarket had the biggest fall in prices over five years, down 15.8 percent, followed by Te Aro down 15 percent and Petone down 13.2 percent.

Wellington central was the most affordable area this year, with a median value of $318,706, followed by $353,942 in Taumarunui, $365,347 in Westport and $365,657 in Auckland Central.

Davidson said Wellington central was affected by being an “apartment market”. “Apartments just carry lower values than standalone houses. I’d put most of it down to the composition of the market … but there is a role to play for the downturn in Wellington.

“Wellington central was priced a lot higher four or five years ago. Wellington, let’s face it, has been a pretty soft market.”

He said the only suburbs included were those with at least 1000 dwellings so there could be smaller parts of the country with lower values again.

He said Auckland was notable in that it had most of the highest-value suburbs but was also home to some of the weaker performing areas.

“There is still an affordability challenge in Auckland and the fact that housing is still a bit of a stretch. You’ve had a sluggish sort of economy and economic confidence around Auckland, as well as a decent supply pipeline still coming through.

“All those things are consistent with each other. So you can have high value real estate, but of course, the flip side of that is that affordability is still a challenge, and that’s been a handbrake on growth this year.”

He said the question now would be what happened next year.

“There seem to be those fundamentals coming together for a bit more growth in prices, but maybe not a fresh Covid-style boom.”

Rents had generally been soft through the year, he said.

“Given the continued decline in net migration, we’ve also seen rents have weakened this year. There have been outright falls in markets such as Auckland, Wellington, and Christchurch which don’t happen often, so it’s been a tricky period for any investor looking to boost their income. Of course, it’s been a more favourable period for tenants.”

Renters in Gladstone, Invercargill, had the biggest increase in rents in the year, up 18 percent, followed by 17.3 percent in Waipawa, and 16.9 percent in Timaru. Long Bay in Auckland had the biggest rent drop, down 17.1 percent, followed by Hilltop in Taupō down 13.8 percent and Ngaio in Wellington down 13 percent.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

[xh ]Inland Revenue accused of ‘behind closed doors’ push for tax

Inland Revenue is pushing ahead with consultation on a plan that would see organisations that charge membership fees having to pay tax on that income.

In May, accountants expressed concerns about IR plans to make some societies’ and associations’ membership fees subject to tax.

Federated Farmers and Chartered Accountants Australia New Zealand also objected.

But in November, IR pushed ahead with the next stage, with a consultation document circulated to 50 organisations, not for public consultation.

The Taxpayers Union pointed to a Federated Farmers release in June that indicated the organisation had been told a potential change had been paused or stopped.

“Yet IRD was instructed to continue the work behind closed doors, consulting only with insiders while shutting out critics. It is a blatant breach of New Zealand’s open tax-policy process.”

A spokesperson for Inland Revenue said the latest consultation was with people and groups who gave feedback on the February consultation.

“Targeted consultation is a method of consultation on detailed design issues we often use with tax professionals and affected parties. It allows us to explore technical detail without first having to cover background. It is for this reason that we contacted groups who had shown particular interest in the topics canvassed.

“Consultation will occur over the period November 2025 to 24 December. If need be, we will clarify points from submitters in the new year. Final decisions can then be made in early 2026.”

He said anyone who wanted a copy of the document could request one.

Angus Ogilvie, managing director of Generate Accounting and NZ division councillor for CPA Australia, expressed concern about the potential change earlier in the year.

He said he was still worried. “The original proposal received a very significant amount of feedback. CPA Australia highlighted that the Australian case used by IRD to justify the removal of the mutuality principle for membership fees was ultimate[ly] overturned by the Federal Parliament.

“There was such a backlash at the High Court ruling that the government of the day moved legislation to restore the mutuality principle. We remain opposed to allowing membership fees to enter the tax net. It is a legitimate way to pool members funds to meet the overheads of an organisation. It has the potential to impact many incorporated societies at a time when the for-purpose sector is under such strain.

“The government backed away from tax changes to charities but seems intent on imposing changes to incorporated societies. That seems at best inconsistent. Even more worrying is the fact that only a select number of interested parties, presumably hand picked by the department, are being asked to respond to the proposal. This seems to fly in the face of the Generic Tax Policy Process.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Central Wellington has the cheapest homes in the country, property data firm Cotality says, but Newmarket has had the biggest fall in values over the past five years.

It has released its end-of-year data, which it said showed a year of stagnation, with lower mortgage rates helping improve sales volumes but a sluggish economy and weak labour market keeping values down.

Chief property economist Kelvin Davidson said despite an extended “flat patch” for values, there had been activity happening.

“First-home buyers have remained very strong, hovering as high as 28 percent to 29 percent of overall purchasing activity, while 2025 has also seen a comeback by mortgaged multiple property owners.”

The data showed that Herne Bay remained the most expensive suburb in the country, with a median value of $2.6 million. It was followed by nearby Westmere and Ponsonby, at $2.2m, and Remuera at $2m.

Arrowtown and Tamahere, Waikato, were the only suburbs outside Auckland in the top 10 most expensive.

Greymouth had the biggest increase in prices over five years, up nearly 60 percent.

This was closely followed by Somerfield, Christchurch, and Hokitika, both experiencing increases of nearly 50 percent over the same five-year period.

Davidson said most of the places where prices had risen strongly were more affordable to start with, including rural locations, small towns, or lower-priced suburbs within larger main centres.

“There are two outliers, however, which are Jacks Point and Lake Hayes; both high-end suburbs in Queenstown, whose popularity among affluent buyers may have contributed to their stronger growth in 2025,” he said.

“Nowhere is booming but it’s all relative… Invercargill is a good example of that, too. Property has been moving quickly in Invercargill. There’s certainly a degree of resilience around Invercargill and that wider southern area.”

The biggest price fall in a year was in Oneroa, Auckland, down 7.9 percent in a year. It was followed by Omaha down 5.7 percent. Atawhai, Nelson was the only non-Auckland suburb in the top 10 lowest value movements.

Newmarket had the biggest fall in prices over five years, down 15.8 percent, followed by Te Aro down 15 percent and Petone down 13.2 percent.

Wellington central was the most affordable region this year, with a median value of $318,706, followed by $353,942 in Taumarunui, $365,347 in Westport and $365,657 in Auckland Central.

Davidson said Wellington central was affected by being an “apartment market”. “Apartments just carry lower values than standalone houses. I’d put most of it down to the composition of the market … but there is a role to play for the downturn in Wellington.

“Wellington central was priced a lot higher four or five years ago. Wellington, let’s face it, has been a pretty soft market.”

He said the only suburbs included were those with at least 1000 dwellings so there could be smaller parts of the country with lower values again.

He said Auckland was notable in that it had most of the highest-value suburbs but was also home to some of the weaker performing areas.

“There is still an affordability challenge in Auckland and the fact that housing is still a bit of a stretch. You’ve had a sluggish sort of economy and economic confidence around Auckland, as well as a decent supply pipeline still coming through.

“All those things are consistent with each other. So you can have high value real estate, but of course, the flip side of that is that affordability is still a challenge, and that’s been a handbrake on growth this year.”

He said the question now would be what happened next year.

“There seem to be those fundamentals coming together for a bit more growth in prices, but maybe not a fresh Covid-style boom.”

Rents had generally been soft through the year, he said.

“Given the continued decline in net migration, we’ve also seen rents have weakened this year. There have been outright falls in markets such as Auckland, Wellington, and Christchurch which don’t happen often, so it’s been a tricky period for any investor looking to boost their income. Of course, it’s been a more favourable period for tenants.”

Renters in Gladstone, Invercargill, had the biggest increase in rents in the year, up 18 percent, followed by 17.3 percent in Waipawa, and 16.9 percent in Timaru. Long Bay in Auckland had the biggest rent drop, down 17.1 percent, followed by Hilltop in Taupō down 13.8 percent and Ngaio in Wellington down 13 percent.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

The Financial Markets Authority (FMA) wants financial institutions to learn from each other when it comes to doing the best by their customers.

The FMA’s review of reviews provided by 10 deposit takers and 10 insurers was expected to be treated as an industry guide for continuous improvement, without creating any new legal obligations.

“When financial institutions proactively review products and services, they can identify and respond to consumer harms, and help promote improvements in the provision of financial services that meet the needs of consumers,” FMA executive director of licensing and conduct supervision Clare Bolingford said.

“There’s a developing area around action-tracking. So it’s great to have done the review, but are you following it up and are you making sure that you’re fixing any issues that you found?”

She said the insurance firm, Tower, was an example of a company that self-reported a mistake in overcharging customers more than $11 million, but then failed to fix the problem in a timely manner.

“It really hammers home how important these reviews are, not just in terms of conducting the reviews in a timely way and finding issues, but also making sure those issues are addressed quickly so that harms don’t occur in the future.”

The FMA ended up bringing a civil case against Tower over its failiure to fix the problems quickly, which resulted in it being fined $7m for misleading and overcharging 61,000 cusotmers.

“It’s important that firms get on top of these things quickly. We know mistakes happen. Errors are going to occur. It’s about how you fix and address them, and then communicate clearly with people that builds trust with the industry and to make sure that customers get a good deal.”

She said companies should also do more to settle disputes with consumer.

“We saw some good practice around the use of complaints and speaking with different stakeholders, but felt the dispute resolution services were overlooked as a source of insights as well.”

Bolingford said accountability and oversight was also something that needed attention.

“Strengthening governance and board reporting to ensure accountability and oversight is key, as is improving consumer communication strategies to build trust and transparency,” she said.

“And finally, companies should ensure they have established clear processes for tracking and implementing review outcomes, including post-review monitoring.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Wholesale rates are getting the blame for the fact that two weeks after the official cash rate was cut, one major bank has increased some of its fixed-term home loan rates.

Westpac said on Tuesday it was increasing its home loans over two- to five-year terms by 30 basis points.

That takes a two-year fix to 4.75 percent.

At the same time, it is reducing its six-month rate by 20 basis points, to 4.69 percent.

Before the latest OCR decision, wholesale markets had virtually priced in one more cut.

So when the Reserve Bank indicated it thought another cut might not be needed, wholesale rates ticked up.

Westpac said wholesale rates were 40 basis points higher than they were the day before the OCR announcement.

Infometrics chief executive Brad Olsen said there was a chance that the wholesale rate increase was a bit of an overreaction.

“You look before the Reserve Bank’s announcement in late November, you know, markets were keen on another cut. Not fully, but leaning in that direction. Then with the Reserve Bank’s nonchalant, through-the-middle view of ‘look there’s not probably a lot left in the system’, which is not too dissimilar to what they said before, markets have gone ‘oh it’s time to start thinking about the up’. It does seem like a bit of a reversal of position there. I do worry a bit that the markets have shifted pretty quickly from one to the other.”

He said people might be confused that the OCR had fallen while retail rates had risen, but there had never been a direct correlation. “We’re now at the turning point where you’re starting to see adjustments across the board.”

It would be interesting to see what other banks did, he said. “Does everyone follow because they’re facing the same sort of pressure but no one has moved yet? Or do you see a few banks go well actually maybe I have to make an adjustment but maybe not the full adjustment because then I drive a bit more of a wedge between me and other offers. It’s not clear what it means for the entire market yet.”

It had been noticeable that there were not major rate movements before the OCR, he said.

There may still be room for banks to absorb some increase on wholesale margins.

The main banks have a net interest margin of about 2.4 percent or 2.5 percent, roughly the same as they had a year ago but higher than the 2.1 percent KPMG reported them having in 2019.

Simplicity chief economist Shamubeel Eaqub said it could mean a “rubbish” Christmas for retailers if people were worried about rates rising again, and the Reserve Bank might have to cut again in February. He said other banks would probably follow. “The great mortgage war taught them not to compete on price – no changes in market share and a drop in profits.”

Commentators have been saying for some time that it could be worth considering a longer-term home loan fix because rates might be about as low as they would go.

Late last month, ANZ’s economists said it was too soon to say with confidence when rates might start increasing.

“The key point for now is that wholesale rates have stopped falling. Competition is clearly hotting up, with banks offering cash incentives to switch and that will be welcome news to borrowers,” they said.

“But when it comes to which term to select, our broad thinking remains as it was a month ago: we believe mortgage rates are likely at or near their lows, and that it is thus worth considering longer terms. With very little separating rates spanning from one to five years, borrowers with differing levels of risk appetite should be able to find a term that satisfies their own cost/certainty trade-off sensitivities.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand