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
Secure your homes over summer
Police are reminding people to keep their homes secure during the summer months.
Inspector Glenda Barnaby, Christchurch Area Prevention manager, says daytime burglaries are just as common as nightime burglaries.
“Burglaries can be committed at any time of the day, and coming into warmer months there is more opportunity for thieves."
"Although a majority of burglaries involve forced entry through windows and doors, we are starting to see more incidents at insecure premises. Police deal with cases where burglaries are committed in broad daylight, sometimes even while the victim is at home. Good weather means open doors and windows, which makes homes more vulnerable to burglars.”
Inspector Barnaby says there’s a few things people can do to reduce their changes of a burglary being committed.
⚠️ If you’re going outside for gardening, relaxing in the sun, or working in the garage, take a moment to lock your doors and secure your windows first.
⚠️ Do the same at night when you go to bed - keep your doors and windows secure and close your curtains. Fitting window stays means you can get a breeze coming through, while keeping your windows secure.
⚠️ Get to know your neighbours - let them know if you’re going away and look out for one another.”
If you see any suspicious activity, people or vehicles in your neighbourhood, don't hesitate to contact Police.
If you witness or suspect any illegal activity, please call 111 if it is happening now, or make a report through 105 either online or over the phone, if it is after the fact.
Poll: Are our Kiwi summer holidays helping us recharge, or holding the economy back? ☀️🥝
There’s growing debate about whether New Zealand’s extended Christmas break (and the slowdown that comes with it) affects productivity.
Tracy Watkins has weighed in ... now it’s your turn. What’s your take? 🤔
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72.5% We work hard, we deserve a break!
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16.4% Hmm, maybe?
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11.1% Yes!
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