If you are on a floating rate somewhere between .5 to .75 would be my guess .
Fixed rate have to wait for your refix .
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https://www.stuff.co.nz/national/hea...ays-sam-stubbs
Have a read,
don't just take notice of what the doomsday merchants write,
get comfortable with your investment exposure
and enjoy the day - the sun will rise tomorrow.
Things will get worse but a year from now, many will wonder like with other crises why they did not take advantage of some fire-sales coming up.
As one with savings in the bank, small price to pay - happy that RBNZ has taken the step, rather than do nothing.
Impressed myself so far with the job that Adrian Orr is doing - he tries to stay ahead of the curve and is very transparent vs the behind the curve Brash & Bollard.
If he was ahead of the curve he would have cut at the last OCR meeting .... ( when many were picking a cut )
Now has been forced to get with the program with an emergency cut .
Also not so ahead of things now he is delaying the introduction of the new bank capital rules .
Not to mention he has said we are not prepared for negative rates ..... Why ?