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News Round Up: October 24

Deteriorating growth outlook likely to keep rates on hold; Weekly News Quiz; Harbour commentary: Waves of pessimism and optimism; FMA intent; Awards succcess for NZ advisers.

Monday, October 24th 2011, 7:00AM

Deteriorating growth outlook likely to keep rates on hold

With the outlook for both global and domestic growth deteriorating, economists expect Reserve Bank governor Alan Bollard will leave interest rates unchanged on Thursday and financial markets have even priced in the outside chance of a cut.  Read the full story here.

Harbour commentary: Waves of pessimism and optimism

Markets are swinging from focusing on significant downgrades to European growth expectations and the prospect of financial contagion from European debt stress to hope that a road map for Europe will be 'published' in coming months. Full report here.

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Welcome to the weekly Good Returns quiz. How well have you kept up with the news this week? Take the quiz and find out. (It probably won't qualify for professional development credits, but it will give you fun).

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FMA releases 'Statement of Intent'

The Financial Markets Authority (FMA) has released a 'Statement of Intent' document outlining its strategic priorities for its first years of operation.

Chief executive Sean Hughes said restoring investor confidence was one of the main goals and "integral to our success."

The document outlines some of the measures that have already been undertaken, such as the implementation of a financial adviser regulatory regime, what it aims to achieve in the coming years and how it will deliver on those aims.

"We want to encourage well-performing and compliant product issuers and advisers while promoting the informed participation of confident, risk-savvy investors," said Hughes.

 

Two NZ advisers nominated for Pinnacle Awards

Two New Zealand advisers have been shortlisted for the Financial Services Institute of Australasia's (Finsia) Pinnacle Awards.

They are Michael Milne, an investment adviser with Craigs Investment Partners in Dunedin, and Janine Starks, the co-managing director of Liontamer Investments from Christchurch.

Milne in on the short list for the "Most Outstanding Young Professional" while Starks in nominated in the "Most Outstanding Thought Leader" category.

"The Pinnacle Awards are intended to provide recognition for our sector's most exceptional professionals throughout Australasia," said Finsia chief executive Russell Thomas.

"We're delighted that two of our New Zealand members have been recognised for their achievements by their peers, and are contenders for a Pinnacle Award."

The award winners will be announced at Finsia's 125th Anniversary Gala Dinner on October 25.

« The $5 million dollar manKiwiSaver mismatch a 'huge challenge' for advisers »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 4.05 4.49
ANZ Special - 3.55 3.55 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
BNZ - Classic - 3.49 3.55 3.89
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 ▼4.65 ▼4.80 -
HSBC Premier 5.24 3.54 3.54 3.69
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.97 4.05 4.39
Kiwibank ▼5.15 4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 ▼4.45 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 ▲3.55 3.89
Sovereign 5.30 3.89 4.05 4.39
Sovereign Special - 3.39 3.55 3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.19 4.35 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.39 3.55 3.89
Wairarapa Building Society ▼5.50 ▼3.95 ▼4.05 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.55 3.99
Median 5.34 3.97 4.05 4.39

Last updated: 24 January 2020 8:55am

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

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Upfront 60% + trail 20%

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