Subscribe today - find out more
Why you should consider BusinessDesk
Economy

RBNZ kicks off hiking cycle with first increase in 7 years

Rebecca Howard
Wed, 06 Oct 2021

RBNZ kicks off hiking cycle with first increase in 7 years
Economists widely expect more hikes to come.
Rebecca Howard
Wed, 06 Oct 2021
Times just got tougher for mortgage holders as banks swiftly moved to lift their home loan rates in the wake of the Reserve Bank of New Zealand’s (RBNZ) first rate increase in seven years.The RBNZ lifted the official cash rate (OCR) by 25 basis points to 0.5% and said “it is appropriate to continue reducing the level of monetary stimulus so as to maintain low inflation and support maximum sustainable employment”.The move was widely expected, and banks reacted swiftly.Kiwibank said its variable lending rates would lift 25 basis...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Wakeup Call FREE
Markets bounce on omicron rethink
Bernard Hickey | Tue, 30 Nov 2021

Global stocks bounced as much as 1.5% this morning as fears about omicron receded somewhat.

Markets
The next carbon auction: predicting the unpredictable
Ian Llewellyn | Tue, 30 Nov 2021

The fourth auction will offer up 4.75 million New Zealand units with the current spot price trading near $65.

Technology
Push to train Māori and Pacific for tech careers
Henry Burrell | Tue, 30 Nov 2021

Amazon’s cloud computing arm is training people in tech with guaranteed internships and a possible job at the end. 

Sponsored
Mansons leads with 120% carbon offset for new builds

Mansons TCLM is committing to a benchmark of 120% carbon offset for new buildings.

Sponsored
SIXT drives the company car upmarket

SIXT is enhancing its adaptable car subscription service with SIXT Business, catering for businesses wanting premium vehicle fleets.