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
Drop-off point for the PFK Garden Toolshed
Did you know that Glenfield Library offers far more than just gardening books to the community?🍄🌿
We are delighted to be a drop-off point for the PFK Garden Toolshed. Feel free to bring along any cleaned garden tools you have borrowed from them and return to us during your next visit.🪚🪣
We are always happy to see you😀
Check www.pfk.org.nz... for more details😍
Today’s Mind-Bender is the Last of the Year! Can You Guess It Before Everyone Else? 🌟🎁🌲
I dance in the sky with green and gold, a spectacle few are lucky to behold; I’m best seen in the south, a celestial sight—what am I, lighting up the New Zealand night?
Do you think you know the answer? Simply 'Like' this post and we'll post the answer in the comments below at 2pm on the day!
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Appeal for infomation: Unexplained Devonport death
Police are continuing to investigate an unexplained death that occurred in Devonport on New Years Day.
The cause of the death remains unexplained, and the Police investigation is ongoing.
Enquiries to date indicate that earlier in the day a group of people may have visited the address at 9 Kerr Street, Devonport, and used the pool, including one adult and at least two children.
We do not believe these people were present at the address at the time of the death, however we are asking that they come forward to enable Police to confirm their movements and any observations they may have made.
Police asking that they, or anyone who may know their identities, contact Police on 105 and quote the file number 260102/0177.
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