Banking Advisor: Most dairy farmers don’t fully understand how banks assess credit
A leading financial and banking advisor says he doubts if most dairy farmers fully understand the dynamics of banking.
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.
Boutique Waikato cheese producer Meyer Cheese is investing in a new $3.5 million facility, designed to boost capacity and enhance the company's sustainability credentials.
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Compensation assistance for farmers impacted by Mycoplama bovis is being wound up.
Selecting the reverse gear quicker than a lovestruck boyfriend who has met the in-laws for the first time, the Coalition Government has confirmed that the proposal to amend Fringe Benefit Tax (FBT) charged against farm utes has been canned.
Holstein Friesian excellence was front and centre at the 2025 Holstein Friesian NZ (HFNZ) Awards, held recently in Invercargill.
The work Fonterra has done with Ballance Agri-Nutrients Ltd, LIC and Ravensdown to save farmers time through better data connections has been recognised with a national award.
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