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
New Year, New Questions You Won’t Solve!
I get smaller every time I take a bath.
What am I?
Do you think you know the answer to our daily riddle? Don't spoil it for your neighbours! Simply 'Like' this post and we'll post the answer in the comments below at 2pm.
Want to stop seeing riddles in your newsfeed?
Head here and hover on the Following button on the top right of the page (and it will show Unfollow) and then click it. If it is giving you the option to Follow, then you've successfully unfollowed the Riddles page.
Clothesline upgrade
Turn a tired old clothesline into a stylish garden feature that brings joy to the chore of getting your washing out in the sun. Finish in Resene Waterborne Woodsman Crowshead. Find out how to create your own with these easy step by step instructions.
Explore more, worry less at Ryman
Pack your bags, hit the open road, or set sail on your next big adventure. With Ryman’s lock-and-leave-style living, you’re free to explore without worrying about home maintenance or security.
While you’re off enjoying life, we’ll take care of everything back home – from mowing the lawns to watering the garden, pulling weeds, and even cleaning the windows.
Ryman residents are free to embrace adventure because they're not tied down with home maintenance stress and security worries. They're rediscovering lost passions and plunging headfirst into new ones whenever they feel like it.
Click find out more to discover the lifestyle.
Loading…
