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
Poll: What special qualities should a 5-star New Zealand airport hotel at our largest international airport have?
Te Arikinui Pullman Auckland Airport is New Zealand’s only 5-star airport hotel, given its incredibly close proximity to the airport, the convenience of walking to the airport is a major highlight but there are plenty of other features that make it special.
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4.9% Unmatched runway views with a private lounge
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45.7% Exceptional service from arrival to departure
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4.9% Gourmet dining featuring New Zealand's finest, celebrating Te Ao Māori kai
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38% A soundproof oasis with all desired amenities
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6.5% Māori culture reflected throughout, creating an architectural marvel
$50 garden centre vouchers!
Our winners this week have won $50 to spend at a local garden centre.
Congratulations to:
Cassie Arauzo from Cockle Bay
Elizabeth Williams from Hillcrest
Luke Shamy from Hornby
Mitchell Hopping from Wallacetown
Get in touch with our helpdesk team here if you're on this list! If you're not a winner, check back next week just in case.