What's next?
OCR kept at 5.50%, two in a row with no change in the OCR.
Current monetary policy working as expected to clampdown the domestic spending therefore tracking well to counter the inflation.
Members of the MPC has mentioned:
"The risks around the lagged effect of previous monetary tightening on households and businesses. The average mortgage rate on outstanding loans is expected to rise from around 5% to near 6% by early 2024, and debt servicing costs as a share of income are still increasing."
Reserve bank has no intention to move on OCR rates, as they are working towards bringing the consumer price inflation between 1% - 3% in the second half of 2024.
Some of the economists are still predicting another rise later this year on the OCR, which could be the max.
Interesting times ahead, with election and CPI update in the next three months, which will give some more clarity.
As reserve bank does their OCR review, it is worthwhile reviewing your mortgage, spending at least 5 - 10 minutes, can potentially save you some interest cost.
If you are unsure, you can engage us, we love to explore options and create an opportunity to grow your wealth.
👉 info@skfg.co.nz
👉0210749825
Poll: Have you ever been bullied?
People associate bullying with children in schools, but it can actually stretch beyond childhood to workplaces or neighbourhoods.
This Friday is Pink Shirt Day, which began in Canada in 2007 when two students took a stand against homophobic bullying after a new student was harassed for wearing pink. People across the globe are now encouraged to wear pink on this day to take a stand against bullying and promote inclusivity.
Have you or your whānau ever experienced bullying? Share your thoughts on Pink Shirt Day below.
Type 'Not For Print' if you wish your comments to be excluded from the Conversations column of your local paper.
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81.3% Yes
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18.3% No
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0.3% Other - I'll share below
Neighbourly Q&A: Renting rights with CAB's Sacha Green
We are continuing our Q&A sessions on Neighbourly. This week we have the amazing Sacha Green from Citizens Advice Bureau New Zealand (CABNZ) who will be answering your questions about your renting rights.
A little bit about Sacha:
She has been working for CABNZ for 10 years and is passionate about empowering people with knowledge of their rights as well as ensuring access to justice.
She helps support the team of over 2,000 trained volunteers who deliver the CAB service in 80 neighbourhoods around Aotearoa by providing advice and support at a national level on a wide range of issues. One of Sacha’s work areas is leading the CAB’s social justice work on housing and tenancy issues.
Whether you're a flatmate, landlord, boarder or flatmate, you can leave a comment below and Sacha will share an answer on Wednesday from 9.30am. You may want to ask about notice periods, bond fulfillment, reasonable rent increases, or even whose responsibility it is to deal with mould in the home.
Join Sacha here on Wednesday at 9.30am. See you then!.
⇩ Share your question below ⇩
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