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
New Lynn Book Sale for April
New Lynn Lions will not be having their monthly book sale this coming weekend as it is Easter Weekend. We have several of our Lions, partners and volunteers away for the weekend. We look forward to seeing you on May 17th.
🧩 Can You Put the Pieces Together? Give It a Go! 🕶️
Give this puzzle a whirl, can you figure it out?
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Poll: Has your Kiwisaver taken a dip?
With the US tariffs ramping up and the stock market taking a hit, many are noticing a change in their Kiwisaver amounts.
If you've had a peek at your Kiwisaver balance since, have you seen it decrease?
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84.9% Yes, it's decreased
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12.1% Nope
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3.1% Other - I'll share below
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