About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Tuesday, February 25th, 8:45PM
Mortgage Rates Daily Commentary
Tuesday 25 February 2020  Add your comment
Peer-to-peer lending up at Southern Cross

While Harmoney dropped out of the peer-to-peer lending market this month, Southern Cross says retail investors are keener than ever to provide funding. Its loan book has increased by nearly 50% year-on-year: [READ ON]

rss
Latest Headlines

Falling business confidence points to... OCR cuts

A sharp decline in business confidence has led ASB to formally join the economists predicting three more OCR cuts by the end of the year.

Tuesday, July 7th 2015, 12:34PM

by Miriam Bell

In the latest NZIER Quarterly Survey of Business Opinion, which came out this morning, business confidence fell to the lowest level since September 2012.

NZIER senior economist Christina Leung said the results of the survey showed the New Zealand economy was losing momentum.

The drop in activity indicators in the June 2015 quarter pointed to annual growth remaining below 3% over the coming year, she said.

This was a marked drop from the 3.5% annual growth seen at the end of last year.

“It appears businesses have now moderated their activity expectations to be more consistent with the softening demand environment. So expectations have fallen – but from lofty levels.”

Leung said the results suggested further interest rate cuts would be on the cards in the remainder of 2015.

The sharp decline of business confidence over the second quarter of 2015 has led ASB to confirm its earlier, tentative prediction of three further OCR cuts this year.

ASB senior economist Jane Turner said the fall in business confidence, along with weak inflation indicators, should prompt further rate cuts from the Reserve Bank. 

“The second consecutive season of low milk prices along with the slowdown in construction activity growth are key factors weighing on business sentiment.”

With further deterioration in economic momentum likely during the rest of 2015, Turner said they expect the RBNZ to deliver another 75bp of OCR cuts before the end of the year.

ASB now sees the cuts coming as three 25bp cuts in July, September and October respectively – which will leave the OCR at a low of 2.5%.

However, Turner added that lower interest rates and the lower NZ dollar should help boost growth again in 2016.
 

Tags: ASB Mortgage Rates OCR OCR forecasts RBNZ

« Westpac predicts three more OCR cuts this year OCR cut on the cards this week »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 3.95 4.15 4.49
ANZ Special - 3.45 3.65 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
Bluestone 4.44 4.44 4.29 4.34
BNZ - Classic - 3.49 3.55 3.89
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
Lender Flt 1yr 2yr 3yr
China Construction Bank Special - 3.19 3.19 3.19
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.65 4.80 -
HSBC Premier 5.24 3.54 3.20 3.69
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.97 4.05 4.39
Kiwibank 5.15 4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Lender Flt 1yr 2yr 3yr
Pepper Money Near Prime 5.64 - 5.44 5.44
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.45 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 3.55 3.89
Sovereign 5.30 3.89 4.05 4.39
Sovereign Special - 3.39 3.55 3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
Lender Flt 1yr 2yr 3yr
TSB Bank 6.09 4.19 4.35 4.69
TSB Special 5.29 3.39 3.55 3.89
Wairarapa Building Society 5.50 3.95 4.05 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.55 3.99
Median 5.34 3.96 4.09 4.39

Last updated: 21 February 2020 4:32pm

Previous News

MORE NEWS»

News Bites
Compare Mortgage Rates
Compare
From
To
For

To graph multiple lenders, hold down Ctrl key while clicking in list box

Also compare rates to OCR
Find a Mortgage Broker

Add your company

Use map
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com