ANZ goes out on a limb and predicts three OCR rises this year
The country’s biggest bank and home loan lender is now predicting three 0.25% OCR rises this year, taking the official cash rate to 3%.
Essentially, it sees the RBNZ becoming too uncomfortable with an OCR in stimulatory territory as inflation inevitably rises.
In a research note, the bank says the risks of going too late outweigh the risks of hiking too soon as long as the OCR is not considered contractionary (i.e. not over 3%, the midpoint of the RBNZ’s range of estimates of the neutral rate).
However, even...MORE»
Mortgage enquiries sink as war drags on and interest rates riseMonday, April 13th, 6:55AM
High fuel prices because of the US and Israel war with Iran, rising interest rates, an increase in banks’ servicing test rates, election year wobbles and general uncertainty over the economy have meant a noticeable drop in mortgage enquiries. MORE» |
Non-bank sector hopeful of a more profitable yearThursday, April 9th, 6:51AM
Even though margin pressure, the Iran war and election year dynamics are weighing on non-bank lenders, they are cautiously optimistic their businesses will improve this year, KPMG’s Specialist Lenders Insights Report shows. MORE» |
OCR on hold
The Reserve Bank has kept the OCR unchanged. Here's what it said.
MORE»RBNZ urged to lower OCR to counter oil price shock recession
While the country’s major banks’ economists expect the RBNZ to look through the initial effects of the Iran war and higher oil prices on inflation and to hold the OCR at 2.25% at its Monetary Policy Review tomorrow, Staircase Financial Management research head Kieran Trass says now is the time to cut the OCR when the oil shock is about to push up costs.
MORE»Billions in wealth lost during one of the severest housing corrections
Homeowners have lost $570 billion in real wealth since the end of 2021 in one of the biggest peacetime housing falls, John Bolton, Squirrel Mortgages founder and group head of property finance reckons.
MORE»Altered documents lead to cancelled licence for mortgage adviser
KAN's tipoff to the Financial Markets Authority leads to mortgage adviser having his FAP licence cancelled.
MORE»BNZ take mortgage competition up a notch
BNZ is upping competition between banks by paying the legal fees of homeowners who switch their mortgages to the bank.
MORE»