ANZ supports Southland farmers after severe storms
ANZ New Zealand is encouraging farmers and businesses impacted by the recent extreme weather that hit Southland and South Otago last week to seek support if they need it.
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.
Acclaimed fruit grower Dean Astill never imagined he would have achieved so much in the years since being named the first Young Horticulturist of the Year, 20 years ago.
The Ashburton-based Carrfields Group continues to show commitment to future growth and in the agricultural sector with its latest investment, the recently acquired 'Spring Farm' adjacent to State Highway 1, Winslow, just south of Ashburton.
New Zealand First leader and Foreign Affairs Minister Winston Peters has blasted Fonterra farmers shareholders for approving the sale of iconic brands to a French company.
A major feature of the Ashburton A&P Show, to be held on October 31 and November 1, will be the annual trans-Tasman Sheep Dog Trial test match, with the best heading dogs from both sides of the Tasman going head-to-head in two teams of four.
Fewer bobby calves are heading to the works this season, as more dairy farmers recognise the value of rearing calves for beef.
The key to a dairy system that generates high profit with a low emissions intensity is using low footprint feed, says Fonterra program manager on-farm excellence, Louise Cook.

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