Economists at war over OCR forecasts
ANZ suggests the RBNZ will rise three times this year. Kiwibank says "reckless" rate hikes unwarranted.
Kiwibank economists have hit back at recent calls for OCR hikes saying they are unwarranted, reckless and could potentially induce a recession by adding costs in the cost-of-living crisis.
ANZ recently predicted three OCR rises this year saying it sees the RBNZ becoming too uncomfortable with an OCR in stimulatory territory as inflation inevitably rises because of the US and Israel war with...MORE»
ANZ goes out on a limb and predicts three OCR rises this yearTuesday, April 14th, 9:40AM 1 comment
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%. 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 year
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.
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