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Well, there it is, folks—the good news we’ve all been waiting for. The Reserve Bank has begun the process of gradually unwinding high interest rates, pushing through a 0.25% cut to the Official Cash Rate. So, now that we’re in a falling rate environment (woohoo!) what’s that going to mean for New Zealand borrowers, and our economy?
As New Zealand holds its collective breath, waiting for interest rates to start falling again, here are the key OCR announcement dates you need in your diary for 2024 and 2025.
There's been a big push in recent years to deliver greater levels of competition across our banking sector, and greater value for customers. But Squirrel's Dave Tyrer reckons we're missing a key part of the solution, and it's not about customers paying less—it's about the banks paying more.
The RBNZ's outlook on interest rates has chopped and changed pretty dramatically in recent months. Ahead of this week's OCR announcement, on August 14th, David Cunningham looks at what's behind this flip-flopping, and how it might be mitigated in future.
