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RBNZ Seen Resuming Rate Cuts as Focus Shifts to Wilting Economy
New Zealand's central bank is expected to cut interest rates this week, resuming its easing cycle after a pause in July as the economy shows signs of stalling. The Reserve Bank's Monetary Policy Committee will lower the Official Cash Rate by 25 basis points to 3% Wednesday in Wellington, according to 22 of 23 economists surveyed by Bloomberg. One predicts no change. A cut would take the benchmark to a three-year low.
Yahoo
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Black Rock Coffee Bar makes US IPO filing public
(Reuters) -Coffee chain Black Rock Coffee Bar made public its paperwork for an initial public offering in the U.S. on Monday. U.S. IPOs have resumed a long-awaited recovery buoyed by successful debuts of several high-profile companies in recent months, which marks a sharp reversal from April when uncertainty around the country's trade policy scuttled all dealmaking. J.P. Morgan, Jefferies, Morgan Stanley and Baird are the lead underwriters for the offering. Black Rock aims to list on the Nasdaq under the symbol 'BRCB'.
Yahoo
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U.S. Credit Card Metrics Send Mixed July Signals
Credit card health in the U.S. showed a split picture in July late payments crept up a touch, but the actual losses banks had to swallow moved lower. Delinquencies, which track borrowers falling behind on payments, ticked up to 2.66% from 2.63% in June. Even so, that's still an improvement from 2.87% a year ago and not far from the 2.68% level seen back in July 2019, before the pandemic. Warning! GuruFocus has detected 5 Warning Signs with RGTI. Net charge-offs, or debts written off as uncollectible, slipped to 3.63% from 3.80% the month before and 4.09% a year earlier. The only catch: that's still a bit higher than the 3.59% rate in mid-2019. The pattern holds even when you strip out Bread Financial's (BFH) higher numbers. And Capital One's (COF) latest results now fold in Discover Financial, following their June 2025 deal, so historical comparisons are a little tricky. For investors, the message is clear enough: consumers are showing a few more signs of strain, but banks aren't seeing losses spiral at least not yet. This article first appeared on GuruFocus. Sign in to access your portfolio