The Reserve Bank held the official cashrate at 1.75% today, and governor Adrian Orr said: “Given the weaker global economic outlook & reduced momentum in domestic spending, the more likely direction of our next OCR move is down.”
City Sales auction – 1 sells out of 3, Reserve Bank holds, First apartment sells at Bayleys auction
The Reserve Bank of NZ received the initiative of the year award in London last night for its bank financial strength dashboard.
Reserve Bank governor Adrian Orr’s unsurprising announcement today that the official cashrate would stay at 1.75% told me this:
Reserve Bank governor Adrian Orr said today the bank would ease its loan:value ratio (LVR) restrictions on banks’ new mortgage loans from 1 January.
The Reserve Bank kept the official cashrate at 1.75% yesterday, and governor Adrian Orr said: “We expect to keep the rate at this level through 2019 & into 2020.”