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Daily Commentary for 28 Jan 2010
Reserve Bank Governor Alan Bollard kept the official cash rate at a record-low 2.50% as expected, and said tame inflation data gave him breathing space to stick to his timeline of a mid-year rate hike. The biggest news yesterday for borrowers was Moody's decision to upgrade New Zealand's banking sector. This means banks may end up paying less than before for money on the wholesale markets. We don't expect the Moodys announcement will bring rates down, rather it is more likely to slow the rate of increases.
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Latest News
Analysis falls in favour of fixing two or three years Floating rates to rise but not as fast or far as expected Bollard lifts OCR, predicts more moderate pace of increases PRESS RELEASE: RBNZ raises OCR to 3% Economists and markets say interest rates up this week Does weak data mean the RBNZ should stop raising interest rates? |
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Flattening yield curve
The above graph shows the journey in which the home loan interest rates have taken over the past couple of years compared with the five-year median. With the considerable cuts to long-term fixed rates this month and the increases we saw to floating rates in June this year, the yield curve is starting to show signs of flattening out. MORE » |
Disclaimer: Every possible effort has been made to keep the information in the rates tables as accurate as possible, however, neither the publishers of Mortgage Rates nor anyone engaged to compile these tables accept any liability for inaccuracies or any loss suffered as a result. It is strongly advised that readers check loan details directly with the provider concerned.
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