Banks move quickly to cut home loan rates after OCR drop

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.

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

The RBNZ cut its cash rate by 50 basis points to 2.5%

The Reserve Bank of New Zealand (RBNZ) cut interest rates by 50 basis points to 2.5% on Wednesday, taking strong action to boost the weak economy and signalling its readiness to make further cuts if needed. The bank’s decision indicates that it is concerned about weak demand, slow growth, and the risk that inflation may remain below its target for longer than planned. RBNZ lowers the cash rate to revive weak economic growth The Reserve Bank of N…

NZD/USD plunges after dovish RBNZ cut; Break below 0.5686 may accelerate losses - Action Forex

NZD/USD tumbled sharply after the RBNZ’s 50bps rate cut to 2.50%, with policymakers retaining an easing bias that signaled scope for further reductions ahead. The policy shift reignited downside momentum in NZD/USD, which broke through 0.5753 support, signaling a renewed leg lower in the ongoing decline from 0.6119. Technically, near term outlook will stay bearish […] The post NZD/USD plunges after dovish RBNZ cut; Break below 0.5686 may acceler…