Added: Jan 8, 2009
From: ofInterestNZ
Duration: 3:53
Panel 1Rates falling fastOCR cut of 100 bpsOCR at 4% by mid 09Variable mortgages at 6-7%Panel 2Fixed rates addictionMay be brokenGap narrowingVariable rates cut hardIn the last weekPanel 3All banks cut variableDown around 8%Only just above fixedGoing short cheaperPanel 4Monetary policy powerIts coming backGap now 30-100 bpsWas 150 bpsRapidly closingBorrowers go shortSavers go long
Channel: News
Tags: analysis commentary commercial documentary gotcha! grassroots news outreach political
Rating: 5.00 (2 ratings) Views: 559 Comments: 3
keithholden Says:
Jan 8, 2009 - Westpac lowered interest rates today, but this was from the last ocr reduction which has taken this long to get pasted on. So the next one in december may not be passed on untill jan 09.
linuxluver Says:
Jan 8, 2009 - Lowering interest rates will have a negative effect on savings. It looks like the debt addicts (banks and their debtors) are in charge of the medicine cabinet.
keithholden Says:
Jan 8, 2009 - Nov. 21 (Bloomberg) -- New Zealand faces the most prolonged recession in 18 years as a slowing world economy curbs exports, farm incomes and tourist arrivals, forcing companies to fire more workers, economists say.