Interest Rates: RBNZ OCR
2pm Wed 28 Feb, the RBNZ will unveil its eagerly awaited OCR decision, marking the first such announcement since 29 Nov 2023. What can we anticipate?
The RBNZ has adopted a hawkish stance, signaling potential rate hikes amidst concerns over domestic inflation - a sentiment echoed by ANZ's Chief Economist, NZ's largest bank.
Contrastingly, the majority of economists have taken a dovish position, cautioning against rate increases. They underscore the impacts of the successive rate hikes (+4.25%) over the past 2.5yrs and the softening underlying GDP, despite robust migration figures.
Adding to the complexity, our Prime Minister, Christopher Luxon, has characterized the nation's current state as "fragile."
Market sentiment have been oscillating. Wholesale market funding rates experienced a -1.16% decline from 4 Oct to 29 Dec 2023, (refer to 2yr swap rate graphic). However, since then, they have rebounded, increasing +0.57%. Concurrently, retail mortgage rates have seen some reduction but not to the same extent.
Market dynamics are influenced by a plethora of factors, including local and international data releases like employment figures, inflation rates, and GDP growth. Moreover, commentary from influential figures - sometimes referred to as "jawboning" - can significantly sway market sentiment.
Ultimately, the RBNZ holds the reins, but it's far from a predetermined outcome.
If you are seeking independent guidance on your refix, restructuring, or refinancing options, reach out to adviceHQ today.
#advicehq #RBNZ #ocr #interestrates #mortgagerates
⚠️ DOGS DIE IN HOT CARS. If you love them, don't leave them. ⚠️
It's a message we share time and time again, and this year, we're calling on you to help us spread that message further.
Did you know that calls to SPCA about dogs left inside hot cars made up a whopping 11% of all welfare calls last summer? This is a completely preventable issue, and one which is causing hundreds of dogs (often loved pets) to suffer.
Here are some quick facts to share with the dog owners in your life:
👉 The temperature inside a car can heat to over 50°C in less than 15 minutes.
👉 Parking in the shade and cracking windows does little to help on a warm day. Dogs rely on panting to keep cool, which they can't do in a hot car.
👉 This puts dogs at a high risk of heatstroke - a serious condition for dogs, with a mortality rate between 39%-50%.
👉 It is an offence under the Animal Welfare Act to leave a dog in a hot vehicle if they are showing signs of heat stress. You can be fined, and prosecuted.
SPCA has created downloadable resources to help you spread the message even further. Posters, a flyer, and a social media tile can be downloaded from our website here: www.spca.nz...
We encourage you to use these - and ask your local businesses to display the posters if they can. Flyers can be kept in your car and handed out as needed.
This is a community problem, and one we cannot solve alone. Help us to prevent more tragedies this summer by sharing this post.
On behalf of the animals - thank you ❤️
Poll: Would you rather: Christmas in summer forever or winter forever?
Just a bit of a fun poll to get you thinking.
If you had to live out your Christmas days, would you prefer it was a summer Christmas or a winter Christmas?
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61.9% Summer
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36.6% Winter
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1.5% Other - I'll share below
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