New Zealand Reserve Bank to increase interest rates

Font size :

The New Zealand Reserve Bank’s interest rate of 2.5 per cent is slated to increase after remaining at a record low for a three-year period, according to a 9 News report
.
In January, Graeme Wheeler, governor for the Reserve Bank, indicated that the central bank would begin to increase the official cash rate (OCR). Doing so will help New Zealand to become the first developed country to hike this rate since the global financial crisis of 2008.

In a Reuters poll of 17 economists, 15 believed that the rate would increase to 2.75 per cent at today’s rate review. 

Wheeler is also expected to discuss the value of the New Zealand dollar, which jumped to a post-float high on the trade-weighted index earlier this week.

The OCR is the rate charged by the Reserve Bank on overnight loans it provides to other banks. It gives the central bank a way of influencing economic activity and inflation.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Thursday, Sep 21, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords