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OCR hike tipped for next week
The Reserve Bank is tipped to raise the Official Cash Rate next week, despite lower than expected economic growth.
The Reserve Bank is tipped to raise the Official Cash Rate next week, despite lower than expected economic growth.
Over a third of kiwi households will have to use credit to pay for otherwise unaffordable expenses if the Reserve Bank increases interest rates in the coming months, according to a new survey.
NZers will look back on the winter of 2010 as the moment we finally realised the last decade of growth was a sham.
The New Zealand dollar gained on a weakening greenback after comments from the Reserve Bank of Australia yesterday spurred traders' appetite for high-yielding currencies.
Auckland house sales slumped 16pc in June, with the average sale price falling 3.6pc from a year ago, says real estate firm Barfoot & Thompson.
House prices will fall gently for the next two years before levelling out, says a leading bank economist.
In a new statement of intent, the Reserve Bank says it is looking at new tools to support the traditional Official Cash Rate.
Phil Goff says the Labour Party would require the Reserve Bank to pursue broader objectives.
All the major trading banks have now lifted their mortgage rates, with BNZ becoming the last to move following the recent OCR hike.
ANZ and National Bank have announced increases to their variable mortgage and savings account rates of around 25 basis points.