OCR
2024 - 8 - 14Will the OCR Cut Make House Prices Soar or Just Give You a Reason to Celebrate?
RBNZ -- Reserve Bank -- anz home loan rates -- asb interest rates -- asb mortgage rates -- interest -- interest rates -- interest rates nz -- mortgage rates nz -- nz ocr -- ocr announcement -- ocr announcement nz -- ocr announcement today -- ocr nz -- reserve bank announcement economics - housing market - inflation - mortgages - Official Cash Rate - Reserve Bank of New Zealand - RBNZ - Reserve Bank - anz home loan rates - asb interest rates - asb mortgage rates - interest - interest rates - interest rates nz - mortgage rates nz - nz ocr - ocr announcement - ocr announcement nz - ocr announcement today - ocr nz - reserve bank announcementGrab your party hats, Kiwis! The Reserve Bank might just give us our first Official Cash Rate cut in four years - but will it mean big savings or just higher house prices? Let's dive into the chaos!
The excitement is palpable as Kiwis brace themselves for the Reserve Bank's impending decision on the Official Cash Rate (OCR). If the OCR is cut on Wednesday, it will mark the first cut in four years, sending economists into a speculative frenzy. It's been dubbed the "economists' super bowl," and for good reason—everyone's on tenderhooks waiting to see if the Reserve Bank Governor, Adrian Orr, will throw us a touchdown or a fumble. Will this monetary policy statement usher in a new era for mortgage holders, or will we all be left holding a sad, crumpled piece of paper?
House buyers, in particular, are itching for a drop in rates, as a massive housing supply deficit coupled with loosening Loan-to-Value ratio (LVR) rules suggests that house prices might skyrocket if the OCR gets chopped down. To make matters even juicier, the government's apparent freeze on capital spending is fanning the flames of speculation. Buying a house might soon feel like trying to catch a greased pig at a fair—possible but just a bit slippery!
However, not everyone is sold on the idea that the Reserve Bank will go through with a cut. Former Finance Minister has made it clear he’s ‘not convinced’ that today’s announcement will bring us the much-anticipated relief. Meanwhile, a recent Westpac New Zealand survey highlights a sharp divide between onshore and offshore clients as to what they'll see in terms of interest rate direction.
As all eyes stare at the OCR live updates, the Reserve Bank pressurizes itself to make a decision that could spark both celebrations and regrettable sighs. It's indeed a rollercoaster—one that can hold the promise of economic revival or plunge us into uncertainty. Interestingly, this marks the first cut since March 2020, and the moves in wholesale interest rates indicate that optimism is gaining traction—though caution still reigns supreme.
In other fun facts, did you know that OCR decisions are not just about economics? They're the subject of serious public interest; some even call it a "money-making game"! Plus, if rates do drop, this could be a fantastic opportunity to reassess your investments. So, whether you're keeping your fingers crossed for a cut or preparing for more suspense, one thing's for sure—the future of the OCR keeps Kiwis hooked!
Expectations rising the Reserve Bank will cut the official cash rate (RNZ)
If dropped on Wednesday, it would be the first OCR cut in four years, but most economists are still doubtful it'll happen.
OCR explained: What can we expect? (New Zealand Herald)
It's been called the "economists' super bowl", so will tomorrow's OCR announcement and monetary policy statement deliver a touchdown, and what will it mean ...
House buyers ready to pounce on OCR cut (The Kākā by Bernard Hickey)
Massive housing supply deficit & looser LVR rules set to fuel house price surge in next rate-cutting cycle; Govt appears to freeze capital spending for ...
Former Finance Minister's "not convinced" an OCR cut will come today (Newstalk ZB)
Reserve Bank Governor Adrian Orr is facing a tough decision on whether to cut the Official Cash Rate today.
Expectations rising Reserve Bank will cut the official cash rate (1 News)
Wholesale interest rates have been falling in recent weeks as financial markets expect the first cut to the official cash rate since March 2020.
Westpac survey reveals OCR forecast split (NZ Advisor)
Westpac New Zealand's August Client Pulse Survey revealed a split between onshore and offshore clients regarding the OCR. Domestic clients expect the OCR to ...
Large Language Models LLMs for OCR Post-Correction (MarkTechPost)
Optical Character Recognition (OCR) converts text from images into editable data, but it often produces errors due to issues like poor image quality or ...
Why today's cash rate announcement has economists in a whirl (The Spinoff)
For the first time since the arrival of Covid-19, interest rate cuts are a real possibility, writes Stewart Sowman-Lund in this extract from The Bulletin.
OCR live updates: Reserve Bank cuts Official Cash Rate to 5.25% (New Zealand Herald)
The Reserve Bank has cut the official cash rate by 25 basis points to 5.25%. It is the first cut since March 2020. STORY CONTINUES AFTER LIVE BLOG STORY...
OCR decision: Reserve Bank cuts official cash rate to 5.25 percent (RNZ)
Expectations had been rising the central bank might cut the rate for the first time in four years.
Reserve Bank reveals its official cash rate decision (1 News)
After two years of trying to tame inflation, the bank's monetary policy committee made the call amid growing unemployment and poor economic growth.
Relief for borrowers as Reserve Bank cuts the OCR to 5.25% (OneRoof)
Inflationary pressures have eased, but will Kiwis see bigger cuts in the months ahead?, All things property, under OneRoof.
RBNZ cuts OCR to 5.25%, Kiwi falls (BusinessDesk)
The Reserve Bank of New Zealand cut the official cash rate by 25 basis points to 5.25% in a keenly awaited decision. "New Zealand's annual consu...
RBNZ cuts OCR to 5.25% and forecasts another cut this year - Good ... (goodreturns.co.nz)
The Reserve Bank has cut its official cash rate (OCR) to 5.25% and says the pace of further easing will depend on the monetary policy committee's degree ...
Business.Scoop » OCR 5.25% – Monetary Restraint Tempered As ... (Business)
Press Release – The Reserve Bank of New Zealand. Economic growth remains below trend and inflation is declining across advanced economies.
Mortgage relief: How banks responded to OCR cut (New Zealand Herald)
Follow our live OCR coverage here New Zealand's major banks have moved swiftly in lowering mortgage lending rates after the Reserve Bank cut the Official...
Business.Scoop » ASB Drops All Home Lending Rates Following ... (Business)
Press Release – ASB Bank. ASB is lowering its variable home loan rate by 25 basis points from 8.64% to 8.39%, while the Orbit rate drops from 8.74% to 8.49% ...
Banks cut floating rates after the OCR reduction (Interest.co.nz)
Kiwibank leads the rate cutting following the RBNZ OCR -25 bps reduction. ASB also cut fixed rates making its whole rate card market-leading - for now.
It's a CUT! Reserve Bank drops Official Cash Rate to 5.25% from 5.5% (Interest.co.nz)
Reserve Bank starts long awaited interest rate cuts, and is forecasting further cuts before the end of the year. It also now sees annual inflation falling ...
OCR drops to 5.25%: How will the rate cut affect Kiwi finances and ... (OneRoof)
The Reserve Bank has cut the Official Cash Rate for the first time since March 2020, taking the pressure off mortgage-holders and the housing market.
Westpac NZ Cuts Floating Rates In Response To OCR Drop (Mirage News)
Westpac NZ is passing on the official cash rate reduction announced today to floating home loan, business lending and savings customers.The bank is.
OCR drops, but may not impact housing too much - VOXY (Voxy)
Chief Property Economist Kelvin Davidson unpacks the August cash rate decision and Monetary Policy Statement. Today's decision by the Reserve Bank of New ...
RBNZ lowers OCR, Govt continues 'let them eat cake' strategy (Green Party of Aotearoa New Zealand)
While the Reserve Bank lowers the Official Cash Rate, it's this Government's policies driving poverty in our communities. “The Reserve Bank's decision to ...
OCR call live: Will the Reserve Bank cut the rate? (Newstalk ZB)
At 2pm today, the Reserve Bank will deliver one of the most hotly anticipated interest rate calls in years.
RBNZ Lowers OCR Govt Continues Let Them Eat Cake Strategy (Scoop.co.nz)
Monetary policy is a blunt instrument. It's fiscal policy - that is, the Government's choices on tax and spend - which dictates the rules, who wins, ...
Westpac NZ slashes floating interest rates after OCR drop (NZ Advisor)
Westpac NZ is passing on the full official cash rate reduction announced today by lowering interest rates for floating home loans, business lending, ...
Westpac NZ Cuts Floating Rates In Response To OCR Drop (Scoop.co.nz)
Westpac NZ General Manager of Product, Sustainability and Marketing Sarah Hearn says today's floating rate cuts are another sign of repayment relief on the ...
OCR: Top economist Brad Olsen accuses Reserve Bank of 'biggest ... (New Zealand Herald)
By Susan Edmunds of RNZ The Reserve Bank's decision to cut the official cash rate by 25 basis points makes it hard to figure out what to trust of what it...
OCR drops, but may not impact housing too much (CoreLogic)
Chief Property Economist Kelvin Davidson unpacks the August cash rate decision and Monetary Policy Statement. Today's decision by the Reserve Bank of New ...
Banks slash mortgage rates as further OCR cuts signalled - Good ... (goodreturns.co.nz)
The five largest banks all rushed to cut their mortgage interest rates after the Reserve Bank cut its official cash rate (OCR) for the first time since ...
OCR cut brings relief for home buyers and retailers (RNZ)
New Zealanders are being told yesterday's unexpected cut to the Official Cash Rate will provide some relief for those struggling with the cost of living ...
Jenée Tibshraeny: What's behind the Reserve Bank's big OCR flip ... (New Zealand Herald)
ANALYSIS Audible sighs of relief resonated through workplaces at 2pm yesterday, as the Reserve Bank (RBNZ) cut the official cash rate (OCR) for the first...
OCR Decision A Small But Crucial Boost To Business Confidence ... (Scoop.co.nz)
Alan McDonald, EMA Head of Advocacy, says businesses have been grappling with severe financial pressures and the Reserve Bank's move to cut the OCR to 5.25% may ...
'We don't have to beg, borrow and steal': OCR cut brings relief to ... (Stuff.co.nz)
A lower Official Cash Rate will help Cantabrian home buyers keep cash in their pockets, mortgage lenders say. Stuff. Home owners let out a collective sigh of ...
Explained: Why are mortgage rates higher than the OCR? (Stuff.co.nz)
Loans from financial institutions and other lenders. Banks borrow money from a variety of sources. This money is called “wholesale debt” and typically comes ...
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