A review of things you need to know before you go home on Monday; interest rates and the NZD fall sharply, smaller deficit, healthy card spending, lower ACC premiums, low prices

Tweet Image sourced from Shutterstock.com Here are the key things you need to know before you leave work today. TODAY’S MORTGAGE RATE CHANGES Today, BNZ hit the home loan market with a new market low 2 year fixed rate of 5.15%. It is a ‘one week special’, and matches a similar one week special they had in April. TODAY’S DEPOSIT …

Roger J Kerr says he doubts recent economic developments will suddenly change the RBNZ’s official line of completely stable OCR interest rates over the next 12 months

Tweet Image sourced from Shutterstock.com By Roger J Kerr The local moneymarkets are now pricing a 100% probability of a first 0.25% cut to the OCR and a 50% probability of a second 0.25% cut over the next 12 months. Several bank economists have changed their forecasts from “no change” in the OCR over the next 12 months to now forecasting two …

Roger J Kerr says our 'rock star' has moved away from its successful repertoire and many fans are already heading for the exit gates

Tweet Image sourced from Shutterstock.com By Roger J Kerr The “Rock Star” economy and currency, which New Zealand has been labelled, has wandered away from its successful concert repertoire late into the evening and many fans are already heading for the exit gates. The only part left of the economy that could be called Rock Star at this point in time is …

Westpac economists say the moves to free-up Auckland's housing supply regulations are actually helping to drive land prices higher and they now predict 10% house price inflation for NZ this year

Tweet Image sourced from Shutterstock.com By David Hargreaves Westpac economists have upped their forecast of NZ house price inflation this year to 10% from 7.5% and they say moves to liberalise housing supply regulations in Auckland are actually helping to drive up the prices of land in the country’s largest city. “At first glance, this idea sounds counterintuitive, but it …

Tradies crackdown yields 'outstanding' results

A crackdown on tradies’ cash jobs is yielding “outstanding” results, says the tax department.Inland Revenue has launched an advertising campaign targeting cash jobs in a bid to recoup unpaid income tax from the country’s multimillion…

NZ spending on credit, debit cards slips in April

New Zealanders spent less on their electronic cards in April, snapping nine consecutive monthly gains, as a drop off in spending on durables weighed on an otherwise flat month.The value of core retail spending, which strips out…