Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


OCR rise well signalled

OCR rise well signalled

The 25 basis points rise in the Official Cash Rate to 2.75% announced by the Reserve Bank of New Zealand today was widely expected said the New Zealand Bankers’ Association.

“The OCR rise has been clearly signalled by the Reserve Bank Governor for some time, and comes as no surprise,” said New Zealand Bankers’ Association chief executive Kirk Hope.

The OCR is part of a range of factors that drive interest rate changes. Other important factors that influence rate changes include the cost of funding from domestic deposits and the cost overseas wholesale funding.

“It’s a good time for mortgagors to assess their circumstances to help ensure they can manage an increase in the cost of borrowing.

“This is especially important for first-home owners who have borrowed at historically low rates.

“Talk to your bank about your particular circumstances. Banks are happy to provide information about products and services to suit individual needs.”

Hope added that the gradual rise in interest rates was good news for people with savings in the bank, especially those who relied on interest income from investments such as retirees.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Public Sector Still Shrinking: Record Low Number Of 'Backroom Bureaucrats'

Ongoing restraint in the public sector and a focus on better frontline services has seen a further reduction in the number of core Government employees, State Services Minister Paula Bennett says. More>>


Disobeying The Law: Police Censorship Of Crime Research “An Outrage”

The Green Party is calling on Police Minister Michael Woodhouse to ensure Police scrap controversial contracts that place onerous restrictions on academic researchers’ access to Police data, the Green Party says. More>>


Q+A Transcript: Groser ‘Not Expecting’ Failure At UN Climate Talks

‘I will be very surprised if we don’t get an agreement. I think it’s a completely different situation to Copenhagen for a number of reasons. We’ve got a much more realistic negotiating proposal on the table. Secondly, I think the science has strengthened...’ More>>


Greenpeace Protest:

Climate Talks, Immigration And Housing: PM's Post Cabinet Press Conference

Prime Minister John Key began by talking about his recent attendance at the APEC and ASEAN summits. He segued neatly from the opportunities available in Vietnam to outlining his upcoming itinerary which includes Malta, Paris and Berlin. More>>


After Urgent Law Change: Beneficiaries Urged To Act Immediately

I am hoping that thousands more people will be enabled to lodge their review... people without internet, who don't even realise that this has been happening. If just a fraction of the people on facebook can help others to put in reviews tomorrow it could improve so many more peoples Christmas. More>>


Auckland: Phil Goff To Run For Mayor In 2016

Phil Goff has today announced his decision to stand as an Independent candidate for Mayor of Auckland next year... As Mayor, Phil Goff will focus on a number of issues that directly impact on the lives of Aucklanders, including tackling traffic congestion and increasing the housing supply. More>>


Foreign Affairs: Mike Moore To Step Down As US Ambassador

Yvonne and I are giving notice to MFAT that we will be leaving the Post just before Christmas on the 16th December... I am now the longest serving continuous Ambassador to the US. I didn’t seek this job but felt I should do it because great issues were at stake. The time was ripe for it. More>>


Fox Glacier: Seven Dead In Helicopter Crash

The operation to recover the victims of Saturday’s helicopter crash at Fox Glacier is a technically challenging task calling for specialist skills in an unforgiving environment, says operation commander Inspector John Canning. More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news