Banks ‘standing by’ to help customers amid fuel crisis – but 0% interest loans off the table

Source: Radio New Zealand

RNZ / Unsplash

New Zealand’s banks say they are standing by to help customers who are affected by the fuel crisis – but the 0 percent interest loans being offered in Australia aren’t on the table here.

The Australian Banking Association said on Monday that Australian banks were supporting the roll out of zero interest loans under Australia’s National Reconstruction Fund’s A$1 billion Economic Resilience Programme.

Banks would administer zero interest loans to businesses in identified priority sectors with an annual turnover of A$100 million or less seeking a loan of up to A$5 million.

Association chief executive Simon Birmingham said banks recognised it was a challenging time for businesses grappling with fuel costs and supply chain disruptions.

“Banks are stepping up to support the roll-out of these zero interest loans to businesses who are doing it tough as a result of the current conflict in the Middle East,” Birmingham said.

“This will be important support for impacted businesses in areas such as freight and logistics, fuel, fertiliser and plastics manufacturing.

“Business customers are urged to get in touch with their bank to discuss eligibility for these loans and how they can apply.”

The New Zealand Banking Association said the Australian programme was being funded by the country’s government.

The same has not been offered here.

“All of our retail banks are standing by to assist customers, including businesses, who may be affected by the current fuel supply issue,” chief executive Roger Beaumont said.

“We encourage anyone experiencing financial issues to contact their bank. The sooner you contact your bank, the better placed they are to provide options to suit your particular circumstances.”

Sign up for Money with Susan Edmunds, a weekly newsletter covering all the things that affect how we make, spend and invest money.

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

Could Northland be NZ’s coffee-growing capital?

Source: Radio New Zealand

123RF

Commercial coffee growing in Aotearoa is still an emerging industry, but work is underway to expand in Northland.

In 2020, RNZ spoke to New Zealand’s only commercial coffee plantation, Ikraus Coffee.

Fast forward to late last year, the New Zealand Coffee Producers Association has held its first inaugural conference and its chairman, Peter Sheppard, said it now has nine members.

Sheppard said it was early days but compared the coffee growing sector to New Zealand’s wine industry 50 years ago.

He said there were now about 7000 plants in the ground and another 5000 to 10,000 being incubated.

“We have got MPI funding for a range of trials to try different sites across Northland to see what types of soils are going to be the most optimal for growing coffee.

“We have also organised another conference this year and we are going to get in an expert from Kona in Hawaii, who will tell us from his experience how to not only grow, but to process the coffee to develop those special high-value characteristics of the coffee,” he said.

MPI is investing up to $486,000 in phase two of the investigation into the feasibility of growing coffee in Northland through its Māori Agribusiness Extension Programme.

The work began in October 2025 and involves testing coffee trees at a larger scale, with the trials expected to run until March 2028.

MPI’s acting director Māori agribusiness directorate, Māori partnerships and investment Haines Ellison said the ministry was supporting the initiative because of its potential to diversify land use and the opportunity for smaller land blocks to have a high‑value crop.

Shepherd said growers were also working to expand on the types of coffee grown in the region.

“We are getting in varieties [of Arabica] such as Geisha, SL34, Tabi and others, which are disease resistant, but also the ones winning all these awards around the world.”

He said New Zealand growers would focus on producing high-value coffee beans – and that meant doing things differently.

“One thing you do to develop the high-value flavours with coffee is to ferment it with yeast, so we are in discussions with the wine and beer industry who have a lot of expertise to collaborate with them.”

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

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

Work underw ay to store additional diesel at Marsden Point

Source: Radio New Zealand

Marsden Point. RNZ / Peter de Graaf

The government has made a deal to store additional diesel at Marsden Point.

Channel Infrastructure was contracted to increase diesel storage capacity by 93 million litres, which was the equivalent of about nine additional days of diesel demand.

Chief executive Rob Buchanan said work was already underway to upgrade the storage facilities, which were expected to be ready to receive the additional diesel from 31 May.

Channel expected to generate additional revenue from the increased capacity, in the order $1.2 million a month over the short-term agreement, which runs until 31 December 2027.

“We applaud the government’s decisive action to secure the critical fuels New Zealand needs to keep the economy moving and look forward to playing our part to help make New Zealand’s fuel supply chain more resilient,” Buchanan said.

Upgrade works involved tank cleaning, the construction of linework to connect the tanks into Channel’s diesel infrastructure and the installation of instrumentation and pumping systems.

Buchanan said the required work was significantly less than for a full tank refurbishment, which would typically take between 18 to 24 months, and the cost was therefore able to be funded within Channel’s existing debt facility headroom.

The agreement with government provided for reimbursement of Channel’s costs if the government elects to not proceed with the additional storage capacity prior to the capacity availability date.

The new storage contract was expected to deliver additional revenue of about $8m in 2026, though uncertainty remained around fuel demand.

Channel underlying profit guidance for the full year ending in December 2026 of between $95m – $100m was unchanged.

Guidance would be updated again at Channel’s annual shareholders meeting on 6 May.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

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

Energy challenges hold back Kiwi firms’ expansion plans

Source: Radio New Zealand

The survey showed businesses wanted to invest more and at a faster rate, but energy worries were holding them back. RNZ / Nate McKinnon

More than one in three firms have delayed expansion plans or lost contracts due to energy costs and supply issues in the past year.

The findings are from survey of about 300 business leaders by global energy technology specialists Schneider Electric.

Nearly half of firms also warned of reduced profitability and rising operating costs if energy challenges continue.

The findings relate to issues on electricity and gas supply in New Zealand over past last year that have seen some manufacturing firmsshut or downscale operations.

They do not capture the recent spike in energy prices due to the Iran war.

Schneider Electric country president Oliver Hill said the survey showed businesses wanted to invest more and at a faster rate, but energy worries were holding them back.

“It’s a real concern that organisations are just getting by rather than making investments which will make New Zealand more competitive as a country.”

The survey also found the main barriers to adopting new technologies were upfront capital costs, skills shortages and complex regulations.

Top priorities for investment amongst those surveyed were energy efficiency, automating workflows and AI-driven efficiencies.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

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

Rising takeaway coffee prices pull food costs higher

Source: Radio New Zealand

Takeaway coffee one of the biggest contributors to the annual increase. 123rf

An increase in the price of takeaway coffee in March helped pull food prices up 3.4 percent higher than a year earlier.

It follows a 4.5 percent rise in the 12 months to February.

Stats NZ said higher prices for meat, poultry and fish, up 7.3 percent, were the main drivers of March’s annual increase.

That was followed by restaurant meals and ready-to-eat food, up 2.8 percent.

The biggest contributors to the annual increase were steak, takeaway coffee, white bread and mince, Stats NZ said.

The average price of a takeaway coffee in March was $5.20, Stats NZ said, up from $4.88 a year earlier.

Coffee prices have been pushed higher as the cost of beans has risen but that pressure has eased more recently.

But other costs for cafes are likely to remain a concern, such as the price of dairy and rising fuel.

Infometrics principal economist Brad Olsen said the increase coming through now could also be a result of earlier increases that had not yet been passed on.

“Just a timing variation, probably because for items like coffee, they do only probably reprice a couple of times a year so you’re not going to see an immediate jump in those prices, they’re more going to bleed through over time.”

He said coffee bean prices were still higher than before the pandemic.

“Talking to people in the sector, those who are selling coffee are trying to eat as much as they can themselves so they don’t have to pass the price increase on. They’re worried that if they pass the full price increase on, people just won’t buy coffee out any more.”

He said the latest food stats included almost none of the recent fuel price increase.

“When we looked at our grocery supply cost index with Foodstuffs, what was quite clear there was that you weren’t really seeing any immediate impact.”

He said it was likely to only start to show up from May.

Foodstuffs said it experienced retail price rises of 3.7 percent in March.

Managing director Chris Quin said the rise in fuel prices would be felt across the food system.

“We’re seeing the early impacts of higher fuel costs, but some of that pressure will take time to show up on shelf because we’re at the end of global and domestic supply chains,” Quin said.

“We are working closely with suppliers to navigate a tough environment, while trying to protect customers from rising costs as much as we can.”

He noted that olive oil had dropped more than 20 percent, cauliflower was down 16.8 percent, apples down almost 15 percent and kumara down almost 14 percent.

Food prices fell 0.6 percent in March compared to February, Stats NZ said.

Contributors were kiwifruit, chocolate blocks, cheddar cheese and beef mince.

Sign up for Money with Susan Edmunds, a weekly newsletter covering all the things that affect how we make, spend and invest money.

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

Time running out to protect Bitcoin from quantum computers, Google says

Source: Radio New Zealand

A quantum computer on display at the World Manufacturing Convention in Heifei, China, in September 2025. AFP/ Fang Dongxu

Google has issued a wake-up call to the Bitcoin community to take urgent action to upgrade blockchain security as advances in quantum technology increase the risk of fraudulent transactions and theft.

Google recently published a white paper warning that quantum computers were already technically capable of intercepting and stealing Bitcoin during an active transaction.

University of Auckland professor of mathematics Steven Galbraith (an associate member of New Zealand’s Dodd-Walls Centre for Photonic and Quantum Technologies) said the risk was real but not immediate.

“There is no evidence that anyone has a quantum computer that can do anything right now,” he said.

Why the urgency?

While the risk might not be immediate, bad actors were already harvesting dormant assets, to decrypt later.

“So if someone’s interested in your medical data, they can harvest it now by just monitoring what’s being sent over the Internet, and then they can just store that on hard disk,” Galbraith said.

“And then whenever they get a quantum computer in the future, they will be able to decrypt that. And so that’s one of the reasons why people are being encouraged to start switching to the post-quantum cryptography (PQC).

Why Bitcoin’s blockchain is at particular risk

Nobel-prize winning physicist John Martinis who helped build Google’s quantum computers said the research showing how a quantum computer could break Bitcoin encryption in minutes should be taken seriously.

While there was an industry solution to protect data using PQC, it was expected to take years to fully implement and upgrade vulnerable assets, though about 20 percent of internet traffic was already protected.

  • Y2Q: What you need to know about threats to encryption
  • Galbraith said systems that were regularly upgraded by big tech and banks were moving in the right direction, but legacy systems, which did not receive regular security updates, such as Bitcoin’s blockchain, were at risk.

    While the white paper was calling for the Bitcoin community to take urgent action to upgrade blockchain security, Galbraith said the nature of the Bitcoin community would make that difficult as there was no central organisation in place to upgrade the system to latest best practice.

    The Bitcoin blockchain is decentralised global network and maintained by volunteers, with changes made by a consensus of participants.

  • Bitcoin’s value halves: Should you buy it?
  • Cryptocurrency NZ co-founder Nicolas Turnbull said the Bitcoin community was leaderless by design, though steps were being taken to modernise the system.

    In the meantime, he said it was important for community members to upgrade Bitcoin wallets to the latest standard, which could be scaled-up to protect against a quantum-based attack.

    However, upgraded wallets wouldn’t address the risk to dormant assets and transactions.

    Treasure hunters and hackers

    The white paper indicates Bitcoin transactions were at “immediate risk” because they took an average ten minutes to complete, giving a hacker with a quantum computer plenty of time to steal the Bitcoin asset as it moved from one wallet to another.

    Furthermore, the paper says Bitcoin assets, which had been locked-in for various reasons, such as lost keys, were particularly vulnerable as they couldn’t be migrated via standard software updates.

    “1.7 million Bitcoin have not been transacted since 2009 despite the fact that such coins are known to be vulnerable to at-rest quantum attacks,” the paper says.

    “They represent a fixed, multibillion-dollar target that will inevitably become accessible to a quantum actor.”

    Dormant Bitcoin stashes included a treasure chest of 1 million Bitcoin, believed to have been owned by the mysterious Bitcoin inventor Satoshi Nakamoto.

    Turnbull said anyone who succeeded in gaining access to 1.7 million Bitcoin, would potentially crash the market.

    “You are going to tank the price,” he said, though there would be plenty of people looking to capitalise on the buying opportunity.

    “I know I’d be buying up as much as I can.”

    Still, it would be difficult to cash-out a treasure chest of Bitcoin.

    “You’d have a pretty big target on your back if you were to essentially get into that (Satoshi Nakamoto) wallet. I reckon it would be the most watched wallet out there,” Turnbull said.

    Cybersecurity risks loom for Bitcoin investors

    The Google paper says the transition to PQC would take time and should begin now.

    “We contend that the amount of time remaining before the arrival of cryptographically relevant quantum computers (CRQCs) still exceeds the amount of time needed to migrate public blockchains to PQC, though the margin for error is increasingly narrow,” the report says.

    “Therefore, we … urge all vulnerable cryptocurrency communities to begin PQC transition immediately while its timely completion is still the likely prospect.”

    Galbraith said investors need to be aware of the risk.

    “I’m not the person to ask investment advice, but certainly the technical person. It’s absolutely an extremely high risk investment, I’d say.”

    Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

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

Under the pump: How tanker drivers are hustling to get fuel to where we need it

Source: Radio New Zealand

Fuel tanker driver Cody Munro took RNZ’s Charlotte Cook along on his deliveries, to see how Aotearoa’s fuel gets distributed out to communities. RNZ / Charlotte Cook

A Wellington fuel tanker could carry enough 91 petrol to run my Hybrid Rav 4 for nearly 30 years, but it might only cover some petrol stations for one day.

Aotearoa’s fuel tanker drivers have been under the pump trying to catch up after the war prompted panic buying.

Last month some fuel stations ran dry and others faced huge queues as concerns over increasing prices and supply pushed people to fill up more than usual.

Tranzliquid tanker driver Cody Munro is one of the people trying to keep stations full, I joined him for two fuel deliveries.

Tranzliquid is one of the many transport companies that move fuel round Aotearoa, but it’s a complicated process that starts well before hitting the road.

Cody Munro is based out of Wellington and drives one of the 50 trucks for Tranzliquid. The whole company looks after between 150 and 180 service stations and commercial customers, with 20 of them in the lower North Island.

Munro has been behind the wheel for 10 years and starts his day at 12:45am. He likes it that way, the roads are quiet, and he can get to where he needs to go faster.

When I meet Munro it is 6:30am and he has already taken about 40,000 litres to Masterton.

RNZ / Charlotte Cook

He’s refilled the tanker ready for the next bulk delivery, a split between the Foxton and Bulls Waitomo stations.

He drives a big Kenwood that weighs about 50 tonnes when full.

For this trip, he has a total of 38,716 litres on board for the two stops: 21,199 litres is diesel and 17, 517 is 91.

At today’s average street value, that’s $150,000 worth of diesel and $60,000 of 91.

17,517 litres would be enough 91 to run a Hybrid Rav 4 for nearly two decades. If the whole truck was 91, I’d be set for life.

But, Munro says it doesn’t last that long at the fuel station.

“A busy station can sort of take a load a day, sometimes two loads a day.”

He says both Foxton and Bulls will need a top up in the next 24 hours or so.

After the war broke out, Munro said they were flat out.

“Only recently, the last week, our sites that we deliver to are looking healthy.

“Before that, if we didn’t get there within a day, they potentially would have run dry.”

Many stations across Aotearoa did run dry over those first few weeks after the conflict began, and people feared it was the first sign of low supplies. Munro said that wasn’t the case, it’s just not as simple as just getting a truck there to fill the stations up.

Stations purchase an allocation of fuel per month, which logistics teams monitor and then plan for deliveries.

RNZ / Charlotte Cook

Munro says the Tranzliquid logistics team plans for school holidays, concerts and events, to ensure everyone gets what they need.

But when people panic buy…

“It blows everything out”

The office meticulously measures what needs to be delivered and creates a route for Munro to follow.

But there are ways trucks can get held up and slow deliveries, leading to lower supplies at stations.

“A loading arm might fail, which means that we can’t actually physically get a certain grade of fuel until that’s sorted,” Munro says.

“It could be an accident out on the road, meaning that you can’t go and do the work in a day.”

Sometimes just getting onto the site to do the delivery is the problem.

“It’s hard, just because the amount of cars that are in there getting fuel and people are not only just filling up their car… Paint tins and things…. It’s kind of a bit silly sometimes, it’s not safe”

At the first stop Munro explains how the truck’s tanks work; they aren’t just one big tank, rather compartments that can take different types of fuel. Because it’s a bulk fuel truck, each compartment must be completely emptied into the station’s tank. He can’t do small amounts here and there like a tanker that might do rural deliveries.

When we arrive in Foxton he checks what the supply is already like; he adds that to what he’s been ordered to deliver, and checks it meets a safe level.

You cannot overfill the tank.

The other area that could go really wrong, is mixing fuel types.

To avoid this, he works thoroughly, step by step, double-checking every movement. There are multiple safety checks on the tanker to ensure this doesn’t happen as well.

He connects the tanker to the station’s tank via a long hose, colour matched – green to green for diesel and white to white for 91.

He says “green to green,” confirming the tanks are matched correctly. I shout “green to green” back in reassurance and the fuel is released.

When it’s finished he taps on the tanker to check it’s empty, an echoey sound responds. Every litre is accounted for.

It’s the same process in Bulls, before we return back to the Seaview Terminal.

But despite being in and out of gas stations all day, Munro needs to fill the tanker itself, after driving 580km.

It costs around $1700 in fuel, just for a days work. Sometimes it’s more, sometimes it’s less.

“On a busy day, if I was local, it would be between five and six petrol stations, four loads.

“So that would be sort of 200 to 240,000 litres being delivered just by myself.

“And then if I was going out of town, usually in those days you would do two deliveries, so that’s around 80,000 litres of fuel.”

Munro says the most interesting thing is that on this delivery, it’s only retail.

“There’s a whole lot more fuel that isn’t at petrol stations. Mainly diesel, but it’s a crazy amount of fuel.”

“Seven days a week there will be someone going somewhere that needs fuel.”

On this day:

Total amount of fuel delivered: 80,000L

Dollar value of fuel: about $210,000

Cost in diesel and fuel to run the tanker: $1700

How long it will last in petrol stations: 1.5 days max

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

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

So you want to buy an EV – here’s what your bank could offer

Source: Radio New Zealand

Banks have reported more interest in loans to purchase EVs in recent weeks. RNZ / Mark Papalii

More New Zealanders have been thinking about switching to electric vehicles in recent weeks as pressure grows on fuel prices.

Banks have reported more interest in loans to purchase EVs and Meridian said it was seeing more activity on its charging network.

RNZ asked the main banks what products they offered.

ASB

Adam Boyd, executive general manager of personal banking at ASB, said ASB home loan customers could use its Better Homes Top Up loan to buy electric or hybrid vehicles, as well as for renovations to make their homes warmer, drier or more energy-efficient.

This had an interest rate of 1 percent fixed for three years for up to $80,000 and required people to have 20 percent equity in their homes.

The loan could be used to purchase a vehicle from a registered motor vehicle trader. It allowed for new or used battery electric vehicles, plug-in hybrid electric vehicles and hybrid vehicles.

“We’ve seen strong growth in demand, with a nearly 50 percent increase in Better Homes Top Up loans from February to March this year. Over the same period, visits to the Better Energy Calculator on ASB’s website increased by 46 percent.

“This can be used to find EVs similar to your current car, information on your home’s energy use, and compare costs and savings.

“We are committed to helping customers lower their carbon footprint, save on energy costs and improve their overall wellbeing – whether it’s by investing in an EV, through electrification or solar, energy efficient heating and insulation. Information about potential savings and benefits of EVs, using electric appliances and solar can be found on our website.”

BNZ

BNZ offers a Better Future home loan top up, which was also to a maximum $80,000 and 1 percent fixed for three years. It also required 20 percent equity.

For electric vehicles, plug-in hybrid electric vehicles, or hybrid electric vehicles, borrowers needed to provide a purchase agreement from a registered motor vehicle trader.

It said search and page views for the product were up 66 percent month-on-month in March and about half the people who borrowed money were doing so to purchase an electric or hybrid vehicle.

“On the business side, green loan drawdowns were up 50 percent in March compared to our monthly average – and for asset finance specifically, green business loans were up 300 percent compared to the monthly average for the previous five months.”

ANZ

ANZ said its Good Energy Home Loan allowed existing customers to borrow from $3000 up to $80,000, again at a 1 percent rate for three years. Borrowers needed to have 20 percent equity.

“The loan can be used for electric and hybrid vehicles, and EV chargers.

“Since its launch in July 2022, more than $1 billion has been lent to more than 25,000 ANZ NZ customers with the Good Energy Home Loan. The average loan amount is $39,200.

“In March, the amount borrowed for transport under the Good Energy Home Loan increased by about 67 percent. The rise in transport lending comes against a backdrop of surging petrol prices and conflict in the Middle East.”

ANZ said the number of households taking a Good Energy Home Loan in the past month was up about 40 percent on the average for the previous three months.

To apply for a loan for an EV or hybrid, people needed to be able to provide a purchase agreement from a registered motor vehicle trader.

It also offered an option for businesses.

“The ANZ Business Green Loan allows businesses to borrow amounts up to $3 million in total to invest in assets or projects that demonstrate clear environmental benefits, aligned to the Loan Market Associations Green Loan Principles. Eligible projects include renewable energy, energy efficiency, green buildings and clean transportation – including electric vehicles and eligible hybrid vehicles.”

That loan had a floating rate of 3.5 percent which was subject to change.

Kiwibank

Kiwibank offers a sustainable energy loan on a variable interest rate but said it would contribute up to $2000 over four years to help pay it off.

Westpac

Jo McGregor, head of lending and insurance product at Westpac, said it offered an interest-free Green Choices home loan top-up.

This offered up to $50,00 interest free for up to five years for EVs and chargers as well as things like rooftop solar.

People could buy EVs new or used but it had to be from a licensed motor vehicle dealer.

“We’ve lent more than $55m for EV vehicles and chargers, hybrid vehicles, and e-mopeds and e-bikes through these offerings since Greater Choices was launched in 2020 and the EV Personal Loan in 2022. Over the past month we’ve seen around twice as many applications as usual for EVs given changes in customer demand linked to the increase in fuel costs.”

It also had an option for people who did not have a home loan with it.

“Our unsecured EV Personal Loan at the competitive interest rate of 7.99 percent p.a. also enables our customers to buy a new or used electric or hybrid vehicle, e-moped or e-bike when supported by a purchase agreement or invoice where appropriate. Customers can also refinance an existing EV loan to Westpac with a settlement letter from current lender.”

Why?

Banking expert Claire Matthews. Supplied/ David Wiltshire

Banking expert Claire Matthews, from Massey University, said the decision to offer the products was more than just a marketing strategy, although that was part of it.

“Banks offer these loans as part of their contribution to society, which is both good for the brand but also part of their brand. It’s also a way for them to extend the relationship with their customer so that there is greater incentive for them to remain with the bank.”

Sign up for Money with Susan Edmunds, a weekly newsletter covering all the things that affect how we make, spend and invest money.

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

Wall Street hits record highs following Lebanon ceasefire, economist warns market still volatile

Source: Radio New Zealand

Stock market numbers are displayed on the floor of the New York Stock Exchange during morning trading on April 17, 2026 in New York City. MICHAEL M. SANTIAGO / AFP

A leading economist says investors are expecting a change in the Middle East conflict, as the New York Stock Exchange reaches record highs.

A number of indices on Wall Street have surged on Friday (Saturday NZT), including the S&P 500, which closed at over 7100 for the first time.

The Nasdaq also had its longest positive daily streak since 1992.

It comes after the announcement of a US-backed ceasefire between Israel and Lebanon earlier this week.

Iranian Foreign Minister Abbas Araqchi said the Strait of Hormuz was also set to be opened following the ceasefire agreement, although the long-term opening is still uncertain.

Infometrics principal economist Brad Olsen said markets have recovered all losses they experienced since the start of the Iran war.

Infometrics principal economist Brad Olsen. File photo. RNZ / Samuel Rillstone

“That means for that, for the likes of Kiwis looking at their KiwiSaver and similar, their earnings are starting to look a whole lot better as everyone, markets, investors, start to expect better things out of the Middle East after some pretty chaotic times,” he said.

“Investors are looking strongly at expectations that conflict seems to be moving much more away from war, and into a lot more ceasefire, and hopefully much calmer conditions.”

There was still volatility in the market, he said.

“The markets have been very trigger-happy at looking for any good news and absolutely leaping on it.”

Olsen said better tones were coming through, and if better expectations continued, further growth could be on the cards.

“We’ve always been watching immediate announcements and seeing, often, quite strong positive market reaction to better expectations from the Middle East, sometimes only to have those pared back within hours as something else adjusts.

“I think there is a little bit of overly-strong optimism coming from the markets, I think most people will be a little bit sceptical of just how strong and forthright the market reaction has been.”

Olsen said while numbers had improved, he would not be surprised to see some volatility in the markets over the coming days, with hopefully a more optimistic tone overall on the horizon.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

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

Is a recession going to put my life savings at risk? – Ask Susan

Source: Radio New Zealand

RNZ’s money correspondent Susan Edmunds answers your questions. RNZ

Got questions? RNZ has a podcast, ‘No Stupid Questions‘, with Susan Edmunds.

We’d love to hear more of your questions about money and the economy. You can send through written questions, like these ones, but even better, you can drop us a voice memo to our email questions@rnz.co.nz.

You can also sign up to RNZ’s new money newsletter, ‘Money with Susan Edmunds‘.

I’m 66 years old and working part time. Should I get my KiwiSaver out if there’s going to be a big recession? I can’t afford to lose it, it’s my life savings and I still have a small mortgage as well which is why I’m still working.

I don’t think you should change your KiwiSaver settings just because there’s the possibility of economic problems ahead.

But it might be a good idea to think now about what you’re invested in and why.

If you really cannot afford to see the balance drop, it may be a good idea to move to a conservative or even cash fund, if that’s not where you are already.

But if you were not expecting to need the money for another decade or so, it may be appropriate to take more risk.

If your investment is already in the right sort of fund, you should be able to just wait out any downturn. (In a story I wrote this week, Pie Funds chief executive Ana-Marie Lockyer noted that even though there is a lot of uncertainty at the moment, sharemarkets have been holding up pretty well – although that could change!)

If you’re not sure, you can check in with your KiwiSaver provider or an adviser to talk about it.

You didn’t ask about your mortgage but you could also consider whether it might work to withdraw some of your fund to pay off that debt. Many KiwiSaver funds have been providing higher returns than the interest rate charged on home loans in recent years but depending on what sort of fund you’re in, that might not continue to be the case if interest rates rise again, as expected. It might be worth weighing up what you’d save by paying off your home loan against what you can expect from your KiwiSaver.

I am 63 and last year decided to put my KiwiSaver into the highly aggressive Booster fund for 10 years. I am on a benefit and so can’t afford to contribute. I’m okay with risk. I only have about $1500 in it so not much as I had to buy a car four years ago with the $4000 I had. Do you think it was a good idea? I am happy to let it sit and not look at it going up and down all the time. In fact I haven’t looked at it since I put it in Booster. I liked that it was environmentally friendly.

I think this is fine. Normally you probably wouldn’t be advised to have your full KiwiSaver balance invested highly aggressively at 63, but if it’s only $1500 and you’re pretty relaxed about the balance moving around, it might work.

What are the rules for New Zealanders who are of retirement age, moving to Australia and their pension entitlement?

You may be able to get the Australian pension, depending on your income and assets.

Julia Bergman, general manager international, disability and generational policy at the Ministry of Social Development, says you’ll need to meet all the relevant eligibility criteria.

That includes being 67.

“To qualify for either New Zealand Super or the Australian Age Pension, people need to have been a resident of the relevant country for a certain number of years.

“Under the reciprocal agreement with Australia, time spent living in either country may count toward this requirement.

“Australian Age Pension is only available to people whose income and assets do not exceed a maximum threshold. This applies to New Zealand citizens living in Australia.

“If a New Zealand citizen in Australia is eligible for both NZ Super and an Australian Age Pension, Australia will reduce their Age Pension entitlement by the amount of NZ Super they receive.”

Sign up for Money with Susan Edmunds, a weekly newsletter covering all the things that affect how we make, spend and invest money.

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