The three major international credit ratings agencies have given the thumbs up to the federal government's planned return to surplus - but warn it may be hard to achieve.
Bank of New Zealand says falling bad debts and mortgage holders switching to floating mortgages boosted profits, as the bank reported a significant jump in first half earnings.
Banks need to brace themselves for a series of mini financial crises in Europe which could lead to another freeze of money markets, Reserve Bank governor Alan Bollard said yesterday.
