Best placed to help in a crisis
OPINION: Two years on from Cyclone Gabrielle, I've learned that while the power of Mother Nature is formidable, it is more than matched by the extraordinary capacity of locals to recover and rebuild.
ANZ says the latest cut to its floating rates will be welcome news to many of its business and agri customers still feeling the effects of high inflation and interest rates.
ANZ NZ managing director for business and agri, Lorraine Mapu says most business and agri customers are on floating rates so changes should flow to them “fairly quickly”.
Following the Reserve Bank’s decision to cut the official cash rate (OCR) by 50 basis points this morning, ANZ cut its business floating rates a further 40-basis points, resulting in a total 55-basis point cut for the month after the bank earlier trimmed rates by 15-basis points.
“Since rates started to drop – both wholesale and the OCR – we’ve announced 135-basis points in cuts to our business and agri customers,” says Mapu. In that time, the OCR has fallen by 125-basis points.
Mapu says most of ANZ NZ’s business and agri customers were on floating rates so the changes should flow through to them relatively quickly, giving some debt relief and helping with cashflow.
Newly elected Federated Farmers meat and wool group chair Richard Dawkins says he will continue the great work done his predecessor Toby Williams.
Hosted by ginger dynamo Te Radar, the Fieldays Innovation Award Winners Event put the spotlight on the agricultural industry's most promising ideas.
According to DairyNZ's latest Econ Tracker update, there has been a rise in the forecast breakeven milk price for the 2025/26 season.
Despite the rain and a liberal coating of mud, engines roared, and the 50th Fieldays Tractor Pull Competition drew crowds of spectators across the four days of the annual event.
Nationwide rural wellbeing programme, Farmstrong recently celebrated its tenth birthday at Fieldays with an event attended by ambassador Sam Whitelock, Farmers Mutual Group (FMG), Farmstrong partners, and government Ministers.
Six industry organisations, including DairyNZ and the Dairy Companies Association (DCANZ) have signed an agreement with the Ministry for Primary Industries (MPI) to prepare the country for a potential foot and mouth outbreak.
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