Interest rates look set to remain low for some time following a Reserve Bank OCR announcement this morning which was as expected and determinedly neutral, according to economists.
ASB chief economist Nick Tuffley said the Reserve Bank’s decision to leave the OCR on hold at 1.75% was widely expected.
They also maintained a neutral bias on the outlook, he said.
“There have been a few subtle changes since the February Monetary Policy Statement (MPS), but nothing too different. Overall, their message is the same.”
Tuffley said the Reserve Bank noted there are signs that the global economy has a bit of momentum, but they also highlighted the global risks of which there are many...MORE»
Thursday, March 23rd, 9:20AM
The Reserve Bank today left the Official Cash Rate unchanged at 1.75 percent, stating monetary policy will remain accommodative for a considerable period.MORE»
Thursday, March 23rd, 9:00AM
Spotting the difference will be the name of the game in next week’s OCR announcement – with economists across the board agreeing the Reserve Bank will make no changes.MORE»
Poor housing affordability in Auckland is a credit negative for New Zealand covered bonds backed by mortgages in the city, according to a global ratings service.MORE»
Debt-to-income ratios (DTIs) and the redirection of tax incentives away from housing would help tackle the risks posed by New Zealand’s housing market, the IMF says.MORE»
UPDATED: There’s equal probability that the next OCR move could be up or down as the risks around inflation are evenly balanced, the Reserve Bank governor says.MORE»
Both Standard & Poors and Moody’s have downgraded Kiwibank’s credit rating in response to the expiry of a guarantee following ownership changes last year.