The Reserve Bank has today left the OCR unchanged at 3.5%, but has shifted to an explicitly neutral stance that is likely to keep interest rates low for some time yet.
RBNZ governor Graeme Wheeler said current economic circumstances including the high exchange rate, low global inflation, and falling oil prices meant traded goods inflation was very weak.
Non-tradables inflation remains moderate, despite buoyant domestic demand and an improving labour market, while headline annual inflation is expected to be below the target band in 2015.
This combination of factors mean that the RBNZ expects to keep the OCR on hold for some time...MORE»
Thursday, January 29th, 9:17AM
Thursday, January 22nd, 1:36PM
OCR increases are off the table for now, economists say.MORE»
Kiwibank has started the year with a cut to its two-year fixed home loan rate.MORE»
There's good news for property owners in the latest official cash rate announcement: Mortgage rates look set to stay low for some time yet.MORE»
Here is what Reserve Bank governor Graeme Wheeler had to say about interest rates today.MORE»
It's pretty clear the official cash rate won't move this week, but when it next moves and in what direction is becoming a fascinating question.MORE»
Squirrel Mortgages is applying for QFE status, and wants to start offering KiwiSaver and peer-to-peer lending.MORE»