Prestigious rating agency Canstar has announced that it is awarding a 5-star rating to Warehouse Money Purple Visa Card, which was launched just six months earlier.

The data provider released its latest Canstar Credit Card Rewards star ratings report today. It awarded the 5 star rating to the Warehouse Money Purple Visa Card in the annual ratings for Rewards cards in the New Zealand market. The card won the rating for the $12k and under annual spend category.

Bigger the note better it is for money launderers and other criminals and keeping that in mind the European Central Bank decided to phase out 500-euro notes. On Wednesday, the European Central Bank announced that it will discontinue with _500 note which is worth roughly $575. The larger denominations are easier to carry and suitcase full could value a lot more than the smaller denominations. A study by Harvard University shows, that equivalent of $1 million in _500 notes only would weigh approximately five pounds.

There were changes in the interest rates this time but the Federal Reserve left doors open for a hike in June when the Federal Open Market Committee meets next on June 14 and15.

The recent from FOMC remained more or less the same as the earlier one and gave no strong indications regarding the decision that will be taken during the meeting in June. The intention of the Federal Reserve will surface in three weeks as the minutes for this meeting are released.

Newshub's owners Mediaworks has apologised to the Reserve Bank of New Zealand after it admitted that one its staff told his colleagues about the bank's decision to lower interest rates about an hour before the official announcement.

Just three months into 2016 and some analysts are already predicting a moldy year for the U. S. banks. According to analysts say this year had a bad start, may be the worst since 2007-2008, the financial crisis years. They also expect banks to report poor first-quarter results when they start coming out this week.

The activities in the capital markets and loan growth are suffering from concerns over China's slow economic growth, impact of energy sector from the continued lower oil prices and low interest rates.

The Greens Party wants to strengthen KiwiBank in order to make it better compete with the foreign owned big four banks paving a path for better interest rates.

The Green Party said on Monday, to achieve better bank interest rates they will inject added $100 million in capital to Kiwibank in order to pace up the growth into as a commercial bank. It will also permit Kiwibank to keep more of the profits so that it grows faster. It will also give Kiwibank an understandable public purpose in order to lead the market in transiting to cuts in interest rates.