Further evidence OCR won't rise soon as inflation expectations fall
Evidence suggesting rates won't rise any time soon continues to pile up.
The latest indicator is businesses' inflation expectations fell for a fourth successive quarter as expectations of growth also deteriorated, according to the Reserve Bank's latest survey.
The survey outcome reinforces the likelihood that the central bank will keep interest rates on hold for an extended period - some aren't ruling out the chance of a near-term cut if news from the Eurozone worsens, but most expect the next move to be a rise in the official cash rate (OCR) in March or June next year...MORE»
More home loan rate cuts to comeMonday, May 21st, 6:00AM 3 comments
It was a huge week in the mortgage market with banks slashing fixed-term rates across the board and, if Friday's sharp move lower in wholesale interest rates is any guide, there should be further cuts in the coming week. MORE» |
Kiwibank matches most of the marketThursday, May 17th, 4:13PM
Kiwibank, who kicked off the latest mortgage rate war last month with a one-year fixed "special" on the same day Reserve Bank governor Alan Bollard opened the door to a possible official cash rate (OCR) cut, has belatedly matched most of the rest of the market's across the board cuts. MORE» |
Why aren't the banks cutting their floating mortgage rates?
The banks are competing fiercely over fixed-rate mortgages but none have cut their floating rates.
MORE»ASB joins rate cutters
ASB Bank has joined a number of other banks in cutting fixed-term mortgage rates, slashing its one, two and three-year rates.
MORE»BNZ tickles interest in fixed rates
Highlighting the intense competition building up in the mortgage market, BNZ has slashed its 18-month fixed “Classic” mortgage rate to 5.10% “for a limited time.”
MORE»ANZ National sharpens rate for Chch borrowers
Hard on the heels of slashing its one-year fixed mortgage rate nationally, ANZ National Bank has launched a 4.55% one-year fixed rate for Christchurch residents and committed to lend up to $500 million as part of a package of measure aimed at supporting the residential rebuild in the quake devastated city.
MORE»BNZ says it's winning market share in deposits and mortgages
BNZ says it's winning market share in both deposits and mortgages.
MORE»
