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
Show us your winter craft or DIY projects
When we are stuck inside, it can be a time to get creative. And we think Neighbourly members are quite a creative bunch. So, let's fill the Neighbourly newsfeed with crafty creations from across the country.
Share a photo below of your craft projects, recent DIY, or your hobby. You may just inspire someone else!
Poll: Should you ask before planting tall shrubs/trees near your property line?
It may be fine now but in a few years trees can block out light or views for neighbours.
Do you think neighbours should ask before they go ahead and plant these?
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68.5% Yes, always ask
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30.4% No
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1.1% Other - I'll share below!
Let's get social
Tell us what groups you'd like to see in your area...(walking groups, coffee meet-ups, swing dancing, a family tree group - anything at all!)
Or if you are already in a great group, share it here for others to get involved.
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