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What happened Wednesday

A review of things you need to know before you sign off on Wednesday; worryingly large current account deficit, IAG signals big premium rises coming, food prices jump, massive Settlement Account balance movements, swaps up, NZD firm, & more ....

David Chaston , Settlement Account ,

Settlement cash balances are expensive for the RBNZ

The combination of very fast rising balances (now $48.5 bln) and a fast rising OCR (now 4.75%) has turbocharged the interest payments by the RBNZ to its depositors ....

Settlement Account , Reserve Bank , Kiwi Bond ,