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OCR announcement expected to have a downbeat toneTuesday, March 9th, 9:32AM
Economists are expecting a more downbeat tone to the Reserve Bank's Monetary Policy Statement this Thursday, but no surprises as it tries to retain flexibility in when it will start policy tightening.ANZ Market Focus says it expects the Official Cash Rate (OCR) to be left unchanged at 2.5% and the timing of the tightening cycle vague to give the Reserve Bank flexibility. "Specifically we struggle to see why the Reserve Bank would continue to include references to "the middle of 2010" in regards to tightening policy, given that we are now already in March." It puts the patchiness in economic momentum down to four reasons, a backdrop of household deleveraging and a structural imperative to improve New Zealand's external position, some success the Reserve Bank is having with its liquidity regime, continued global unease and some uncertainty regarding impending tax changes...MORE»
Previous Mortgage News
TSB's profit surges, mortgage book growsTuesday, March 2nd, 9:23AM
TSB Bank's December quarter net profit surged and its mortgage book continued to grow strongly. MORE»Question marks around the recoveryMonday, March 1st, 4:14PM
Despite the National Bank Business Outlook survey suggesting a recovery for 2010 remains on track, most economists believe other data shows volatility.
MORE» Low floating rates not getting much responseFriday, February 26th, 4:25PM
Low floating mortgage rates have not produced a surge in borrowing says BNZ economist Tony Alexander.
MORE» ANZ's profit rises but mortgage book stallsFriday, February 26th, 4:10PM
ANZ Bank reported net profit surged in the December quarter although its mortgage book was barely changed. MORE»Wespac's mortgage book gallops but profit fallsFriday, February 26th, 1:49PM
Westpac's New Zealand subsidiary's mortgage book galloped away in the December quarter, growing much faster than its market share and at nearly double the rate of the previous quarter. MORE»Tax credit boosts BNZ profits despite underlying profit dropThursday, February 25th, 2:57PM
Bank of New Zealand's December quarter net profit rose, thanks to a tax credit as a result of its settlement with the Inland Revenue Department over its structured finance transactions. MORE»Meaty chunks off the tableTuesday, February 23rd, 5:09PM
Predictions for an OCR hike have jumped from April to June and now economists are tempted to push this out to July because of softening data. MORE» |
Latest News
OCR announcement expected to have a downbeat tone Market looks to Bollard for guidance on interest rates TSB's profit surges, mortgage book grows |
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A decade of rates
The graph shows the significant movement in mortgage interest rates that has been experienced within past decade. Since 2000 the floating rate has peaked at 10.7% in mid 2008. The highest floating rates were 20.5% back in June 1987. MORE » |
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