NEWSFLASH: Cash rate unchanged

The Reserve Bank today left the Official Cash Rate unchanged at 5.75%.

Thursday, January 23rd 2003, 9:21AM

NEWSFLASH: Cash rate unchanged -->NEWSFLASH: Cash rate unchanged -->"A key development since November has been a further sharp rise in the New Zealand dollar against all major currencies. If sustained, we expect the higher exchange rate to dampen future economic activity and, hence, medium-term inflation pressures," Reserve Bank governor Alan Bollard said. "However, current domestic economic activity appears to be more robust than we anticipated, as reflected in indicators of household spending and construction sector activity. The latest estimates suggest that domestic inflationary pressure has continued, offsetting a fall in imported inflation. As expected, overall CPI inflation has remained towards the upper end of the 1 to 3% target band for inflation on average over the medium term.

"For the moment, it is appropriate to leave the OCR unchanged, reflecting the strong growth in the New Zealand economy. However, the balance of risks around the future path of interest rates has shifted. If the exchange rate remains at around present levels or appreciates further, and if the evidence points to reduced pressures on resources and medium-term inflation, then there may be scope for a cut in the OCR later in the year," Bollard said.

The next OCR announcement comes with the release of the Monetary Policy Statement on March 6.

This is the official announcement from the Reserve Bank. A news story will follow.

« House buying interest strong

Mortgage rates unlikely to rise this year »

Special Offers

Commenting is closed

Lender

Flt

1yr

2yr

3yr

AIA - Back My Build

4.44

AIA - Go Home Loans

6.54

4.89

4.95

5.09

ANZ

6.49

5.55

5.69

ANZ Blueprint to Build

7.39

ANZ Good Energy

1.00

ANZ Special

4.95

5.09

ASB Bank

6.44

4.89

4.95

5.09

ASB Better Homes Top Up

1.00

Avanti Finance - Near Prime

6.90

Avanti Finance - Specialised

8.34

Basecorp Finance

▼7.15

Lender

Flt

1yr

2yr

3yr

BNZ - Classic

5.99

5.69

BNZ - Mortgage One

6.54

BNZ - Rapid Repay

6.54

BNZ - Std

6.44

4.89

4.95

5.09

BNZ - TotalMoney

6.54

CFML 321 Loans

4.99

CFML Home Loans

6.70

CFML Prime Loans

7.20

CFML Standard Loans

7.99

China Construction Bank

6.44

4.85

4.95

China Construction Bank Special

6.44

5.85

5.95

Lender

Flt

1yr

2yr

3yr

Co-operative Bank - First Home Special

4.85

Co-operative Bank - Owner Occ

5.95

4.95

4.99

5.25

Co-operative Bank - Standard

5.95

5.45

5.49

5.75

Credit Union Auckland

7.70

First Credit Union Special

5.29

5.19

First Credit Union Standard

6.94

5.79

5.49

Heartland Bank - Online

5.99

5.89

Heartland Bank - Reverse Mortgage

Heretaunga Building Society

7.45

5.90

5.80

ICBC

6.50

4.85

4.95

5.05

Kainga Ora

6.44

4.89

4.95

5.09

Lender

Flt

1yr

2yr

3yr

Kainga Ora - First Home Buyer Special

Kiwibank

6.35

5.79

5.85

5.95

Kiwibank - Offset

6.35

Kiwibank Special

4.89

4.95

5.15

Liberty

6.90

6.80

6.50

6.45

Nelson Building Society

6.94

4.99

4.93

Pepper Money Near Prime

6.85

Pepper Money Prime

6.29

Pepper Money Specialist

8.30

SBS Bank

6.49

▼5.49

5.55

▼5.69

SBS Bank Special

▼4.89

4.95

▼5.09

Lender

Flt

1yr

2yr

3yr

SBS Construction lending for FHB

3.94

SBS FirstHome Combo

4.29

SBS FirstHome Combo

SBS Unwind reverse equity

8.64

TSB Bank

7.19

5.69

5.75

6.09

TSB Special

6.39

4.89

4.95

5.29

Unity First Home Buyer special

4.29

Unity Special

6.64

4.99

Unity Standard

6.64

5.79

Wairarapa Building Society

6.75

5.09

4.95

Westpac

6.59

5.49

5.55

5.59

Lender

Flt

1yr

2yr

3yr

Westpac Choices Everyday

6.69

Westpac Offset

6.59

Westpac Special

4.89

4.95

4.99

Median

6.56

4.99

5.15

NZ's Financial Adviser News Centre

Mortgages

Mortgage Rates Daily Commentary

Big, fat beautiful fees

NEWSFLASH: Cash rate unchanged

The Reserve Bank today left the Official Cash Rate unchanged at 5.75%.

Thursday, January 23rd 2003, 9:21AM

Commenting is closed

AIA - Back My Build
AIA - Go Home Loans
ANZ
ANZ Blueprint to Build
ANZ Good Energy
ANZ Special
ASB Bank
ASB Better Homes Top Up
Avanti Finance - Near Prime
Avanti Finance - Specialised
Basecorp Finance
BNZ - Classic
BNZ - Mortgage One
BNZ - Rapid Repay
BNZ - Std
BNZ - TotalMoney
CFML 321 Loans
CFML Home Loans
CFML Prime Loans
CFML Standard Loans
China Construction Bank
China Construction Bank Special
Co-operative Bank - First Home Special
Co-operative Bank - Owner Occ
Co-operative Bank - Standard
Credit Union Auckland
First Credit Union Special
First Credit Union Standard
HBS
Heartland Bank - Online
Heartland Bank - Reverse Mortgage
Heretaunga Building Society
ICBC
Kainga Ora
Kainga Ora - First Home Buyer Special
Kiwibank
Kiwibank - Capped Variable
Kiwibank - LVR >80%
Kiwibank - Offset
Kiwibank - Special
Kiwibank Special
Kiwibank Special
Liberty
Nelson Building Society
Pepper Money Near Prime
Pepper Money Prime
Pepper Money Specialist
SBS
SBS Bank
SBS Bank Special
SBS Construction lending for FHB
SBS FirstHome Combo
SBS FirstHome Combo
SBS Unwind reverse equity
TSB Bank
TSB Special
Unity First Home Buyer special
Unity Special
Unity Standard
Waiarapa Building Society
Wairarapa Building Society
Westpac
Westpac - Choices Everyday
Westpac Choices Everyday
Westpac Offset
Westpac Special