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News
House prices tipped for faster recovery
5+ hour, 54+ min ago (88+ words) House prices could be on track for a much faster recovery than ASB expects. The bank says national prices are still 15 percent below their late-2021 peak - and won't fully recover until 2029. But real estate agent Rawdon Christie thinks the market's…...
Economy looks to be regaining momentum despite political uncertainty, Middle East
1+ day, 3+ hour ago (104+ words) The latest forecast from BusinessNZ shows New Zealand's economy's regained momentum. It's predicting solid economic growth out to 2028, citing the fact business confidence is holding up, the Performance of Manufacturing and Services Indexes are back in black, tourism's growing, and…...
'Work ahead of it': HSBC chief economist on when the RBA will put cash rate up
1+ day, 16+ hour ago (82+ words) Newstalk ZB Growing inflation and a changing economy could inspire Australia's Reserve Bank to start putting the OCR up again, according to one expert. Australia's current official cash rate is currently at 4.35 percent, but the central bank is due to…...
‘Limited market impact’: Economist on National’s first-home buyer policy
3+ day, 5+ hour ago (103+ words) Newstalk ZB National's plan to expand the First Home Loan scheme could help more people buy their first home - but isn't expected to transform the housing market. The party wants to widen access to five percent deposits. If elected, National…...
Reserve Bank projects only ‘gradual’ decline in unemployment
3+ day, 4+ hour ago (481+ words) The Reserve Bank expects getting a job to gradually get easier, but some people could continue to find it much harder than others. New Zealand’s unemployment rate hit 5.6% in the last quarter – its highest point in almost 11 years – as the…...
'Somewhat choppy: Forsyth Barr head of research chats economic outlook after positive reporting season
3+ day, 4+ hour ago (113+ words) Newstalk ZB Follow the podcast on Reporting season has revealed better than expected results, with median growth across the economy at +21%, despite forecasters predicting it was going to be +16%. "We've come out of a pretty long trough in the context…...
Peter Norris: What does the OCR change mean for your mortgage?
5+ day, 7+ min ago (78+ words) Newstalk ZB Follow the podcast on The OCR changed this week, The Reserve Bank has upped it from 2.5% to 2.75%. But mortgages are already high, some unlucky buyers are now finding they owe more than the value of their house as…...
'It's not trivial': New data shows how many first home buyers owe more than what their home is worth
6+ day, 16+ hour ago (93+ words) Newstalk ZB Follow the podcast on New data shows there's a subset of Kiwis who are being hit harder than most by rising interest rates. At least 3600 first home buyers owe more than what their home is worth, but Cotality…...
"Largely expected": Fixed rates unlikely to rise in wake of OCR hike
1+ week, 30+ min ago (87+ words) Banks aren't expected to increase fixed rates after the latest OCR hike. The Reserve Bank raised the Official Cash Rate another 25 basis points yesterday, bringing it to 2.75%. Governor Anna Breman says they are moving it towards a neutral level of…...
Explained: Did markets price in the latest OCR hike?
1+ week, 16+ hour ago (72+ words) Newstalk ZB Follow the podcast on The Reserve Bank has raised the OCR by 25 basis points to 2.75 percent, in line with economists' expectations. Markets expected the cash rate would go up, but many had priced in a bigger increase - and…...