Householders such as myself with mortgages partly floating will be happy at the news today that the OCR is unlikely to be jumping up a huge amount over the next two years. This means that we are likely to see maybe .5 – 1% increase this year and maybe the same next year as the…
Tag: ocr
Reserve Bank of New Zealand Hold OCR a 3.0%
The Official Cash Rate has this morning been left on hold by the Reserve Bank at 3 per cent. Such a hold was widely expected, with market economists all but unanimous that Reserve Bank Governor Bollard will not raise the official cash rate again until March next year. The average expectation among 11 forecasters polled…
June 2009 – OCR remains bottomed out at 2.5% – Is This The Turning Point?
The New Zealand economy has been on a downward spiral along with global economies since 2007. Butmany believe that we in New Zealand have reached a turning point. In terms of New Zealands Official Cash Rate I believe we have hit the bottom of the line. It started in June last year when the Official Cash…
Reserve Bank Of New Zealand Lowers OCR To 2.5% April 30 2009
New Zealands Official Cash Rate has been cut again to 2.5% which is a further sign that the Reserve Bank is trying to stimulate the economy. Dr Alan Bollard this morning said to the people that he sees the Official Cash Rate being low for around the next 18 months as the economy is finding…
New Zealand OCR Dropped to 3.0% 12 March 2009 – Will This Help?
Again the Reserve Bank of New Zealand is dropping our Official Cash rate amid the world and New Zealand Economy falling as credit becomes tight and people stop spending money like they have in the past few years. The new OCR rate of 3% is a 50 bias point drop on what it was at…
Arranging Finance – Are The Banks Helping
Well it is interesting to note that now after almost 5 weeks ago the OCR dropping to a record low in New Zealand of 3.5% the banks are now only just starting to pass the interest rates to the consumer. I am aware that the banks are facing increasing pressures as the sost of buying…
OCR Cut 29th January 2009 to 3.5%
This cut in the Official Cash Rate has been very much anticipated by most. We all should be aware of the huge hurt the global economy is in and the huge effect this is having on almost every single market we know. This rate drop is hoped to bring back some business confidence which is…
New Zealands Household Debt Falls For First Time in 17 Years
Lets start 2009 with a little less bad news from the economys point of view. We are now starting to see some of the effects on the credit crunch and how it is affecting the spending habbits of New Zealanders. In November New Zealand household borrowing fell for the first time in 17 years. This…
Banks World Wide Slashing Official Cash Rates
Interest Rates Around the World are tumbling down as the Reserve Banks of different countries are trying to stabilize their economies as one of the worlds harshest financial crashes crunches down on everybody. The Reserve Bank of New Zealand was the first to kick of cuts in December with a massive 150 basis point cut…
December 4 – OCR Drops to 5% … So What Will This Actually Mean For Us?
Todays OCR rate cut of 1.5% from 6.5% to 5% is a bold move by the Reserve Bank of New Zealand and is one that is hope to put some stimulation into our very slow economy. The OCR drop will mean to us as consumers a whole host of things that will save us all…
NZ OCR Dropped by .5% in Surprise Move By Reserve Bank
The New Zealand dollar tumbled to a 2-year low versus the US dollar as the Reserve Bank of New Zealand lowered its key interest rate by .5% points to 7.50%. The move surprised the economists who were widely expecting a 25 basis point cut. The NZ dollar also slumped to a more than 2-yearlow against…
YAY! Reserve Bank Drop OCR For First Time in 5 Years
The Official Cash Rate has been dropped by the Reserve Bank for the first time in five years. Dr Alan Bollard has announced it is being dropped by 0.25 percent to 8 percent. In his statement released this morning, Dr Bollard said “more unpleasant international news has emerged since the June Monetary Policy Statement, and…