NZX having trouble with its website postings ....Bad timing ...at start of reporting season !!!
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NZX having trouble with its website postings ....Bad timing ...at start of reporting season !!!
Jeez
RBNZ target 4.5% OCR ..thats 7%+ morg rates .... massive recession coming for NZ ...what’ll do to the markets?
https://www.stuff.co.nz/business/129...e-on-wednesday
7% will break a lot of new home buyers/upgraders from I can tell anecdotally. It's worse than I thought speaking to friends and colleagues.
The economy is already spluttering. Credit arrears building (off low base). It’s now a deflation story.
Probably see 2% mortgage rates late 2023??
If it's .5 they will add a lot of bluster. The RB seems to walk hand in hand with the Govt and no one wants to see first home buyers on the pavement. Look at todays news with the new wave of home buyers recent residents.
Mortgages are nearly there now aren't they 6.5% floating?
https://www.interest.co.nz/borrowing
Admittedly CPI is a lagging indicator but it is at 7.3% so not quite 1% positive in real terms for the poor borrowers.
As far as new home buyers hurting they had plenty of warning but took the risk of rising rates anyway. It is not the central banks mandate to save the home owners/risk takers. if that is the case they aren't taking much risk.
Central bank actions start to look like central planning rather than price stability.
Just ask some boomers what interest rate they were paying on their mortgages.
China has just announced a temporary suspension of customs clearance and cargo releases for all Australian and New Zealand goods, including meat, dairy, agricultural products and more.
https://mp.weixin.qq.com/s/277fZbWYvk8a9nEFojsbVQ
that explain the sell -off in aud , nzd last night
okyo/Perth | Australian beef exporters are on high alert following reports that China may temporarily suspend all meat imports from Australia and New Zealand due to concerns about foot and mouth disease.
Other exporters were also alarmed on Monday by a Chinese media report which said China was suspending imports of Australian grain, dairy and
https://www.afr.com/world/asia/alarm...0220815-p5ba0c
Yes like many Govt/CB around the world they are between a rock and a hard place ... we might well see dovish talk from RBNZ while still raising rates
. personally I think property consumer sentiment here in NZ will continue south .. which bank will lend to build if the builder can't give a fixed price contract ? how many FHB have the capital and income to be able to keep these bubble prices afloat ....how many young kiwis or even property investors will continue to buy up NZ property and keep the major industry in this nation afloat>>>If borrowing @ 6-7%+
Swap rates not moving up, cost of funds the only thing that matters. OCR just playing catch up
Agree with u ...Just hard talk ....Real rates market has a mind of its own and its not pushing real bank funding rates higher as it thinks its unsustainable
Banks are falling over each other reducing 2,3 and 5 year mortgage rates by giving specials as new business is drying up so fast
HGH has best one year rate of just 4.79%
Bull, I'm pretty sure it's just beef and more hot air than anything official. Not Dairy.