While the Reserve Bank is not indicating when it next expects to increase the OCR, markets are picking the move will come in seven months time.
“Market pricing suggests the next full 25 basis point hike is expected by April 2015.”
The markets are pricing in an OCR of 3.97% by the end of 2015, which is lower than the 4.20% forecast after the June Monetary Policy Statement.
This means that floating home loan rates will stay at current levels until then.
Fixed rates, which are largely determined off is happening in offshore markets, may come down...MORE»
Thursday, September 11th, 9:01AM
Economists’ predictions that the Reserve Bank would hold the official cash rate at 3.50% have proved to be correct.MORE»
Thursday, September 11th, 9:00AM
OCR unchanged at 3.5 percentMORE»
The official cash rate is highly unlikely to move the week when the Reserve Bank issues its next Monetary Policy Statement. indeed it has been described by one economist as being a vanilla statement.MORE»
The Professional Advisers Association has dumped its introduction to mortgages course and replaced it with a five-day course which it hopes will become mandatory for people wanting to enter the industry.MORE»
Philip Macalister gives you a round up of interest rate news; tells you a story about a re-finance he has just done, and talks about Westpac’s latest moves.MORE»
ASB's full year profit of $806 million was a "good result for the business", chief executive Barbara Chapman says.MORE»
Westpac New Zealand chief executive, Peter Clare has resigned following a recent, major medical procedure to correct a heart condition.MORE»