Business

Westpac's three-year fix of 4.99% is probably not a sustainable rate, one economist says.

Fertiliser co-operative Ravensdown says making tough calls like restricting its manufacturing operations to Christchurch and Napier has put the business in a better position as farmers spend less.

House prices are likely to remain broadly flat for the next five years, Infometrics chief economist Brad Olsen says, and New Zealanders may need to come terms with not being able to "bet the house on" strong capital gains.

The Climate Change Commission has given support to a campaign to end free carbon credits for big polluters such as Methanex, Rio Tinto and NZ Steel.

Households are being warned to expect higher power prices this year, as pressure goes on bills in three key ways.