What's next?
OCR kept at 5.50%, two in a row with no change in the OCR.
Current monetary policy working as expected to clampdown the domestic spending therefore tracking well to counter the inflation.
Members of the MPC has mentioned:
"The risks around the lagged effect of previous monetary tightening on households and businesses. The average mortgage rate on outstanding loans is expected to rise from around 5% to near 6% by early 2024, and debt servicing costs as a share of income are still increasing."
Reserve bank has no intention to move on OCR rates, as they are working towards bringing the consumer price inflation between 1% - 3% in the second half of 2024.
Some of the economists are still predicting another rise later this year on the OCR, which could be the max.
Interesting times ahead, with election and CPI update in the next three months, which will give some more clarity.
As reserve bank does their OCR review, it is worthwhile reviewing your mortgage, spending at least 5 - 10 minutes, can potentially save you some interest cost.
If you are unsure, you can engage us, we love to explore options and create an opportunity to grow your wealth.
👉 info@skfg.co.nz
👉0210749825
Neighbourhood Challenge: Who Can Crack This One? ⛓️💥❔
What has a head but no brain?
Do you think you know the answer? Simply 'Like' this post if you know the answer and the big reveal will be posted in the comments at 2pm on the day!
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Scam Alert: Fake information regarding December Bonuses from MSD
The Ministry of Social Development is reporting that fake information is circulating about new ‘December bonuses’ or ‘benefit increases’
If you get suspicious communication, please contact Netsafe.
Poll: Are Kiwis allergic to “exuberance”? 🥝
In The Post’s opinion piece on the developments set to open across Aotearoa in 2026, John Coop suggests that, as a nation, we’re “allergic to exuberance.”
We want to know: Are we really allergic to showing our excitement?
Is it time to lean into a more optimistic view of the place we call home? As big projects take shape and new opportunities emerge, perhaps it’s worth asking whether a little more confidence (and enthusiasm!) could do us some good.
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40.4% Yes
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33.9% Maybe?
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25.7% No
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