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Results: Bank Policy

Two hands exchanging playing cards
05 May 2022

Borrowing costs to banks unusually high at the moment

One of the more interesting things in the wholesale money markets at the moment is that swap rates have risen so far they imply an...

Hand in glove squeezing lemon
26 April 2022

Monetary policy to tighten before it loosens again

the fixed rate costs to banks of borrowing money to lend at fixed interest rates have soared in recent weeks. That is why we are s...

Silhouette of person climbing mountain
11 April 2022

Mortgage rates still yet to peak

An analyst was quoted recently saying she believes fixed mortgage rates are already at their peaks. I can see where she's coming f...

25 February 2021

OCR remains unchanged, RBNZ to keep monetary policy steady

There's no reason for strongly believing that we face a future of sustained high inflation which will require an interest rate crunch. But borrowers should pay attention to the upside risks and the extreme uncertainty regarding how far and fast rates rise.

Straight road lined with trees
11 November 2020

Why interest rates will remain low for a few years - Tony Alexander

Banks lend out about $280 billion to households for housing purchases. But they have funding from households exactly equal to $200 billion. It might pay to stop and think about that number for a moment.

Back view of young couple walking on grass
20 July 2020

Rate cuts are likely to be short term only

Margins are below average for terms of three years and longer. This tell us that unless there's a change in borrowing costs, anyone holding out for further falls in rates is taking quite a gamble.

Hand holding small globe, in front of mountain landscape
01 May 2020

Breaking: Loan-to-value (LVR) rules are removed by the RBNZ

The Reserve Bank of New Zealand (RBNZ) announced yesterday that the loan-to-value ratio (LVR) restrictions that they put in place back in 2013 will be removed from 1 May for 12 months. So what does this mean?

Banker in corporate attire, pointing finger