Interest Rates: RBNZ OCR
2pm Wed 28 Feb, the RBNZ will unveil its eagerly awaited OCR decision, marking the first such announcement since 29 Nov 2023. What can we anticipate?
The RBNZ has adopted a hawkish stance, signaling potential rate hikes amidst concerns over domestic inflation - a sentiment echoed by ANZ's Chief Economist, NZ's largest bank.
Contrastingly, the majority of economists have taken a dovish position, cautioning against rate increases. They underscore the impacts of the successive rate hikes (+4.25%) over the past 2.5yrs and the softening underlying GDP, despite robust migration figures.
Adding to the complexity, our Prime Minister, Christopher Luxon, has characterized the nation's current state as "fragile."
Market sentiment have been oscillating. Wholesale market funding rates experienced a -1.16% decline from 4 Oct to 29 Dec 2023, (refer to 2yr swap rate graphic). However, since then, they have rebounded, increasing +0.57%. Concurrently, retail mortgage rates have seen some reduction but not to the same extent.
Market dynamics are influenced by a plethora of factors, including local and international data releases like employment figures, inflation rates, and GDP growth. Moreover, commentary from influential figures - sometimes referred to as "jawboning" - can significantly sway market sentiment.
Ultimately, the RBNZ holds the reins, but it's far from a predetermined outcome.
If you are seeking independent guidance on your refix, restructuring, or refinancing options, reach out to adviceHQ today.
#advicehq #RBNZ #ocr #interestrates #mortgagerates
Poll: Would you want an unconventional funeral?
Funerals can cost as much as $22,000 and the planning can be stressful especially at a time when loved ones are grieving. Some New Zealanders are re-imagining funerals by making their own coffin or having a relaxed ceremony at home. Would you want a less traditional funeral? Share your thoughts below.
Type 'Not For Print' if you wish your comments to be excluded from the Conversations column of your local paper.
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87.5% Yes
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0% No
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12.5% Other - I'll share below!
Do good in the dark times
In the darkest of times, no one should have to cope alone. Victim Support seeks volunteers like you to step up and step in, to offer vital assistance when it’s needed most. Whether it's providing crucial information or just being there to listen, your support can change lives.
Share your skills, time and compassion to directly help victims of crime, suicide and traumatic events.
Volunteer with us and do good in the dark times!
With heartfelt thanks,
The Victim Support Team
Poll: Does the building consent process need to change?
We definitely need homes that are fit to live in but there are often frustrations when it comes to getting consent to modify your own home.
Do you think changes need made to the current process for building consent? Share your thoughts below.
Type 'Not For Print' if you wish your comments to be excluded from the Conversations column of your local paper.
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91.4% Yes
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8% No
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0.6% Other - I'll share below!
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