It was not the Reserve Bank's actions but rather its words last week which have caused a stir in the market, with its guarded stance and specific references to a more gradual series of hikes sending the market reeling according to ANZ. As a result the Official Cash Rate forecasts of economists are scattered, see their predictions here.
Silver Fern Mortgages have made changes across all its rates today with its floating, six-month and one-year rates all increasing by 25, 20 and 10 points respectively. Its two to five-year rates were all cut. The biggest cut was made to its five-year rate which dropped by 80 basis points followed by its four and three-year rates which went down by 75 and 65 points respectively.
