OCR

The Reserve Bank has lifted the official cash rate by 50 basis points to 1.5 per cent this afternoon. Economists had been divided on whether the Reserve B.

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National's Deputy Leader Nicola Willis says the party has expectations of its members' conduct. National's finance spokeswoman Nicola Willis. Photo: RNZ. The ...

And that is something we can act on." "Rising food prices is a global issue. Luxon said it was about "half and half" domestic and external factors, and the Government needed to "be smart and rein in spending". Kiwis deserve better." National Party leader Christopher Luxon said it was difficult to blame all of an 18 percent rise in fresh produce and 7.7pc food price overall on the war in Ukraine. On food prices, the Government said it was an issue "nearly every country is facing" with Covid-related supply chain issues and the ongoing war in Ukraine, and reinforced the need to rein in "super profits of the supermarket duopoly".

The New Zealand sharemarket provided a muted reaction to the half per cent hike in the official cash rate that pushes up interest rates to combat the ...

Chatham Rock Phosphate has completed a private capital raising of $2.52m at 19.5c a share and its share price gained 2c or 10 per cent to 22c. Eroad's share price slipped 13c or 4.09 per cent to $3.05. Fibre update has grown from 67 per cent to 69 per cent. Trustpower will be renamed Manawa Energy and generate 5 per cent of the country's electricity with volumes of 1915GWh. Food prices added fuel, rising 7.6 per cent in March compared with the same month last year – the largest increase since the year ending July 2011. "The bank has done the right thing today by moving quickly to tighten its monetary policy. Other gainers were Accordant Group up 7c or 3.48 per cent to $2.08; Gentrack increasing 9c or 35.29 per cent to $1.79; and Third Age Health Services gaining 5c or 1.82 per cent to $2.80. Asset Plus rose 5c or 19.61 per cent to 30.5c after confirming the sale of 35 Graham St in Auckland to a private investor for $65m, representing a premium to current value of $62.6m. Settlement is in December next year and provides certainty for Asset Plus' Albany Munroe Lane development. Port of Tauranga gained 16c or 2.5 per cent to $6.57 after being upgraded by one broker as an investment inflation hedge; Napier Port increased 9c or 3.1 per cent to $2.99; and South Port New Zealand was up 10c to $9. Contact Energy collected 11c to $8.01; Spark increased 7c to $4.85; Vector gained another 5c to $4.31; Michael Hill International was up 5c or 3.85 per cent to $1.35; DGL Group rose 26c or 7.9 per cent to $3.55; and Bremworth increased 5c or 9.43 per cent to 58c. On the day Australian visitors returned to New Zealand, Auckland International Airport was up 14.5c or 1.93 per cent to $7.65, Millennium & Copthorne Hotels New Zealand increased 7c or 2.83 per cent to $2.54; and Tourism Holdings edged ahead 1c to $2.88. The New Zealand sharemarket provided a muted reaction to the half per cent hike in the official cash rate that pushes up interest rates to combat the inexorable rise of inflation.

The sooner we address inflation, the better, Brad Olsen believes. Credits: Video - AM; Image - Getty Images. The Reserve Bank's decision on Wednesday on whether ...

The Reserve Bank has responded to rising inflation by hiking the official cash rate by half a percentage point to 1.5 per cent, but signalled its overall ...

“Even though mortgage rates have already been rising again in recent weeks, this process isn’t over yet. “Many ‘special’ fixed-rate mortgages in the popular one to two-year terms are currently in the range of 4 to 5 per cent, and it seems fair to suggest that this could end up in the range of 5 to 6 per cent over the coming months, perhaps a bit above,” he said. The Reserve Bank said falling house prices were a sign house prices were moving towards “a more sustainable level”. “We expect it to hike the OCR to 3 per cent by the end of this year,” he said. Moving the OCR to “a more neutral stance sooner” would reduce the risks of rising inflation expectations, it said. The bank appeared to slightly soften its move by saying it remained comfortable with the outlook for interest rates that it last published in February and that “a larger move now also provides more policy flexibility ahead in light of the highly uncertain global economic environment”.

Interest rates are headed higher after the official cash rate was hiked this afternoon.

After all, some banks are reportedly making a bit more low-deposit finance available, while the relaxed CCCFA rule changes are set to commence soon." "For the housing market, the implications are clear – even though mortgage rates have already been rising again in recent weeks, this process isn't over yet. Many 'special' fixed-rate mortgages in the popular 1-2 year terms are currently in the range of 4-5 per cent, and it seems fair to suggest that this could end up in the range of 5-6 per cent over the coming months, perhaps a bit above." The committee said it saw the 'path of least regret' was "to increase the OCR by more now, rather than later, to head off rising inflation expectations and minimise any unnecessary volatility in output, interest rates, and the exchange rate in the future". Reserve Bank Governor Adrian Orr has a policy of following "the path of least regret." The monetary policy committee said it "remained comfortable" with the outlook for the OCR as outlined in their February Monetary Policy Statement."

The Reserve Bank has stepped up the battle against inflation with an increase of half of a percentage point in the Official Cash Rate to 1.5 percent, ...

"Moving the OCR to a more neutral stance sooner will reduce the risks of rising inflation expectations. The RBNZ started raising the official cash rate in October last year, with further hikes in November and February this year as it ended its easy money policies which pumped billions of dollars at rock bottom rates to support the financial system when Covid hit in 2020. The Reserve Bank (RBNZ) has stepped up the battle against inflation with an increase of half of a percentage point in the Official Cash Rate (OCR) to 1.5 percent, with a warning that further rises are coming.

The Reserve Bank is expected to hike the official cash rate (OCR) on Wednesday as New Zealand experiences the highest level of inflation in decades.

The 0.5% rise was the most banks had expected to tackle rising inflation.

“Even though mortgage rates have already been rising again in recent weeks, this process isn’t over yet. “Many ‘special’ fixed-rate mortgages in the popular one to two-year terms are currently in the range of 4 to 5 per cent, and it seems fair to suggest that this could end up in the range of 5 to 6 per cent over the coming months, perhaps a bit above,” he said. The Reserve Bank said falling house prices were a sign house prices were moving towards “a more sustainable level”. “We expect it to hike the OCR to 3 per cent by the end of this year,” he said. Moving the OCR to “a more neutral stance sooner” would reduce the risks of rising inflation expectations, it said. The bank appeared to slightly soften its move by saying it remained comfortable with the outlook for interest rates that it last published in February and that “a larger move now also provides more policy flexibility ahead in light of the highly uncertain global economic environment”.

Reserve Bank lifts Official Cash Rate by 50 points to 1.5%, opting to tighten monetary conditions at pace to avoid high inflation becoming embedded.

Expect more FOOP, and expect a doubling down of FONGO. The only way out when selling today is to drop the price. They're definitely the ones who need to be taught a lesson.Read less They'll also have the debt they took on to pay for it, which is my actual point. They'll also have the debt they took on to pay for it, which is my actual point. "The Committee noted that the OCR is stimulatory at its current level. it is too easy for the Bank to let things slide. We have had 12 months of data (pricing intentions, employment figures) all pointing to this, but he chose to stick his head in the sand and keep massively stimulatory policies in place - not "neutral" monetary settings, emergency stimulatory settings. Definitely a fair bit of building of affordable housing supply which helped NZ to attain its once high home ownership rate by the 1980s and 90s. The Committee noted that the OCR is stimulatory at its current level. As such, the Committee confirmed that further increases in the OCR are needed in order to meet their mandate. A larger move now also provides more policy flexibility ahead in light of the highly uncertain global economic environment. The Monetary Policy Committee today increased the Official Cash Rate (OCR) to 1.50 percent.

Leading Kiwi politicians, including a Cabinet minister, have been caught short on basic facts about our economy this morning during a grilling by Newstalk ...

"Should you know those numbers? - Mike Hosking: Where is our absent government when the ... Economists remain divided on whether the Reserve Bank will - or should - lift the official cash rate by 0.25 or 0.50 basis points today "The official cash rate is around 2 per cent," Woods replied, instantly doubling the actual rate. Woods was able to correctly identify the unemployment rate at 3.2 per cent but stumbled when pressed on the OCR, despite the fact all eyes are on it today ahead of a predicted rise. Minister of Housing and Associate Minister of Finance Megan Woods joined Hosking this morning, alongside National's Mark Mitchell, and was not able to recall the correct official cash rate (OCR), relying on Google to find the correct figure of 1 per cent.

The Reserve Bank (RBNZ) has just pushed the Official Cash Rate (OCR) up by 50 basis points.

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The Reserve Bank has stepped up the battle against inflation, with an increase of half of a percentage point in the Official Cash Rate to 1.5 percent, ...

"Moving the OCR to a more neutral stance sooner will reduce the risks of rising inflation expectations. "The Committee will remain focused on ensuring that current high consumer price inflation does not become embedded into longer-term inflation expectations." "The level of global economic activity continues to generate rising inflation pressures, exacerbated by ongoing supply disruptions in large part driven by Covid.