All the economists we survey, except one, reckon the OCR will go up another 25 basis points on Thursday. The big question though is will the Reserve Bank change its forecasts so they are more in line with what hte market is pricing in? Current pricing indicates rates will rise, but not as quickly as the central bank forecast. READ ON
Rate News
ASB has introduced a new five year fixed rate special of 6.85% (also offered by Bank Direct and Sovereign).
The special five year rate applies to new and existing lending for customers who have at least 20% equity, an ASB credit card and have salary or wages credited to their main transaction account with ASB.
The bank has also shaved 4 points off its two year special.
Meanwhile, Kiwibank has reduced it two year fixed rate for <80 LVR lending to 5.85%. The standard two year rate for >80 lending remains 6.19%.
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