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
🧩 Crack the Code: Today’s Riddle Challenge! 🤔
I’m a three-digit number; my tens digit is five more than my ones, and my hundreds digit is eight less than my tens—what am I?
Do you think you know the answer to our riddle? Don't spoil it for your neighbours! Simply 'Like' this post if you know the answer and the big reveal will be posted in the comments at 2pm.
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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.
Show us your creative backyard build
We hope you've been enjoying the Neighbourly Backyard Awards so far, we know we have!
It is time for our last award. And the category is....Most creative backyard build
It could be a planter box, an outdoor table or even a backyard bar. We just want to see the sanctuary you've created in your backyard.
So share a photo, or two, in a comment below of your creation or backyard set up a to be in to win a $100 Mitre10 voucher. Winner will be announced next Monday 🛝🪴🛖
Poll: Do you have a pet at home?
Neighbourly members LOVE their pets, whether it's a smoochy cat, a trusty pup or even a feathered friend.
We'd like to know how many of you who see this post actually have a pet at home. Let us know in the poll below!
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73.7% Yes - I have a pet / multiple pets
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7.7% Not currently, but one day!
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18.6% Nope, I live in a pet-free home
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