What's next?
OCR kept at 5.50%, two in a row with no change in the OCR.
Current monetary policy working as expected to clampdown the domestic spending therefore tracking well to counter the inflation.
Members of the MPC has mentioned:
"The risks around the lagged effect of previous monetary tightening on households and businesses. The average mortgage rate on outstanding loans is expected to rise from around 5% to near 6% by early 2024, and debt servicing costs as a share of income are still increasing."
Reserve bank has no intention to move on OCR rates, as they are working towards bringing the consumer price inflation between 1% - 3% in the second half of 2024.
Some of the economists are still predicting another rise later this year on the OCR, which could be the max.
Interesting times ahead, with election and CPI update in the next three months, which will give some more clarity.
As reserve bank does their OCR review, it is worthwhile reviewing your mortgage, spending at least 5 - 10 minutes, can potentially save you some interest cost.
If you are unsure, you can engage us, we love to explore options and create an opportunity to grow your wealth.
👉 info@skfg.co.nz
👉0210749825
Living the good life in retirement, a Stuff-Metlifecare partnership
Kia ora team
Our special partnership with Metlifecare continues, and we have some great content to share with readers about people living their best lives in retirement.
This issue we look at some of the worthwhile volunteer roles retirees are filling in our communities, learn about mindfulness at any age, and check out some Kiwi beach travel options while the good weather lasts.
Don’t forget to try out our nostalgia quiz - it’s for anyone who wants to test the Kiwi knowledge they’ve picked up over the past four, five, six or more decades.
Joanna Davis
Homed Editor
Think You Know It All? Try Solving This First!
How can you make 30 using only the numbers 1, 3, 5, 7, and 9 with each number only used once?
Do you think you know the answer to our daily riddle? Don't spoil it for your neighbours! Simply 'Like' this post and we'll post the answer in the comments below at 2pm.
Want to stop seeing riddles in your newsfeed?
Head here and hover on the Following button on the top right of the page (and it will show Unfollow) and then click it. If it is giving you the option to Follow, then you've successfully unfollowed the Riddles page.
Are you keeping it old school?
We know that things come back around, look at vinyl records!
Do you still use any old-school technology (like landlines or VHS tapes) at home?
Let us know in the comments.
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