Newpark concern over regulation; TSB, ASB rate cuts

Newpark has expressed concerns about the level of liability faced by groups under the new regulatory regime, and doubts about groups achieving a FAP license. See what CEO Melanie Purdey said here: [READ ON].

TSB has slashed 6 month, 1 year, 18 month, and 2 year rates this morning. Its 2 year special rate is down to 3.59%. See the bank's other rates here.

ASB's 2 year special falls even further to 3.49% today. Its standard 2 year is 3.99%.

Meanwhile, long serving BNZ Chief Economist Tony Alexander has announced his resignation.