Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

NZ rates hit record low

Staff Reporter 1 minute read

The New Zealand cash rate hit an all time low today after the Reserve Bank of New Zealand (RBNZ) cut rates by 50 basis points.

The reduction brings New Zealand’s cash rate to 3 per cent – 5.25 per cent lower than its peak last July.

Commenting on the decision, Allan Bollard, RBNZ governor, said the timing of a global recovery remained “highly uncertain” and that New Zealand could expect adverse economic forces to remain dominant throughout the year.

Meanwhile in the New Zealand housing market, home sales recorded a slight recovery in February, Real Estate Institute of New Zealand (REINZ) data showed this week. Monthly sales rose to 5,228 compared to just 3,706 in January.

Compared to the boom days of February 2007 however home sales are now down by 44 per cent.

 

NZ rates hit record low
default
TheAdviser logo
default

 

more from the adviser
regulation rules AFCA amends complaints rules following court case

The financial services ombudsman has changed its rules after the ...

meeting top view ta 62c1 Half of home owners wary of bank refinance advice

One in two borrowers does not believe banks always have their bes...

house sold Hot Property: The biggest property headlines from the week 18-22 January

Here’s the weekly round-up of the biggest news stories from acr...

FROM THE WEB