Two More Banks Drop Home Loan Rates After OCR Cut

Two more banks drop home loan rates after OCR cut

Two more banks have reacted to the Reserve Bank’s Official Cash Rate cut lowering floating mortgage rates. Kiwibank and BNZ are the latest to lower their...

RBNZ opts for bumper rate cut and flags more as economy falters

Some economists said the New Zealand central bank’s move was a high-risk strategy designed to jolt the country back into growth after a sluggish period.

Banks move quickly to cut home loan rates after OCR drop

ANZ and Westpac have become the first banks to move interest rates after the Reserve Bank cut the official cash rate.

Mortgage Rates Tipped To Fall Further

The Reserve Bank has made a bold move to support New Zealand’s struggling economy, cutting the Official Cash Rate (OCR) by 50 basis points to 2.5 percent. The decision exceeded some expectations, with the market divided between a 25 or 50 basis point drop.The Monetary Policy Committee (MPC) signalled that more cuts could be on the way, depending on how inflation and growth evolve. “The committee remains open to further reductions in the OCR as r…

NZD/USD rebounds slightly after RBNZ’s higher-than-expected rate cut

The New Zealand Dollar (NZD) comes under heavy pressure on Wednesday after the Reserve Bank of New Zealand (RBNZ) lowered the Official Cash Rate (OCR) by 50 basis points (bps) to 2.50% from 3.00%. Markets had been expecting a smaller 25 bps move.

Tracking the mortgage rate changes following the OCR cut

ANZ moves first after the 50 basis points OCR cut, passing on 40 bps to floating rate borrowers, Westpac only passes on 30 bps, ASB goes 30 bps too