Reserve Bank Governor yanks reins of money market; Helen Clark receives standing ovation in Parliament; restructuring of New Zealand Post's mail services to begin next week.
NZ Herald
The paper says Reserve Bank Governor Alan Bollard yanked the reins of the money market on Wednesday to stop a rise in long-term wholesale interest rates resulting from a rush to fix home mortgage rates at present levels.
MPs gave former Prime Minister Helen Clark a standing ovation in Parliament and party leaders lined up to congratulate her after it was confirmed she would be the new United Nations Development Programme head.
The New Zealand Herald says cricket ball that gave a motorist mother a nasty fright on an Auckland motorway has prompted a hasty meeting between a high school and the department that runs New Zealand's roads.
Dominion Post
The Dominion Post reports a toddler with severe head injuries died after emergency services took two-and-a-half hours to get her to hospital. St John Ambulance confirmed an internal investigation was under way, amid claims its officers lost precious time before finally calling a rescue helicopter for the little girl.
Home loan customers probably missed the "bargain of a lifetime" on long-term mortgage rates, but floating mortgage rates are likely to fall further.
Former prime minister Helen Clark is pictured preparing to leave her Parliamentary office, buoyed by a large bunch of flowers from Maori party co-leader Tariana Turia.
The Press
The paper reports high numbers of alcohol-fuelled assaults in Canterbury have boosted violent crime figures by nearly 10% in the last year.
Following on from yesterday's Reserve Bank statement, floating mortgage rates are likely to fall further and stay down, possibly till the end of next year.
And The Press says a new report by credit agency Dunn and Bradstreet says one in five Kiwis plans to miss a mortgage repayment to pay for food and other household expenses.
Otago Daily Times
The ODT says the Otago Chamber of Commerce, the Otago Regional Council and five companies have launched an Environment Court challenge against the Dunedin City Council's contentious harbourside development.
The estranged wife of convicted fraudster Michael Swann may have to give up her 2005 Toyota Land Cruiser and drive 'a more modest' vehicle, after directions were given in the High Court at Dunedin.
Wide restructuring of New Zealand Post's mail services will begin next week, with the potential for redundancies from its 6000-strong postal services division, including administration and support staff.
