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11-06-2015, 10:19 AM
#341
How do the banks win ?
Lower interest rates usually means tighter margins for banks.
Originally Posted by winner69
Banks celebrating their win today, even better news for them as no mention of any future increases but more cuts likely
As foreign wholesale funding rates creep up (ie higher costs for local banks) they now every excuse to screw NZ depositors even more to make up the shortfall.
Well done Cam Bagrie et al, you have done a good job for your bosses.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
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11-06-2015, 10:37 AM
#342
Well the banks dropped lending rates for one & two year as the curve dropped in anticipation of the RBNZ lowering rates.
Banks will make much better margins of a higher interest rate environment than a low one, so overall the RBNZ lowering rates is not helping the banks at all, quite the opposite.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
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11-06-2015, 12:51 PM
#343
You may be right daytr ....seems like everybody is reading the same papers
I still to be convinced though but the trick is to prosper if one can prosper from the commentators myopic view of the current state of the economy. Thinking about that
http://www.interest.co.nz/opinion/75...aster-had-been
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11-06-2015, 01:32 PM
#344
Well its been my view for a while & in fact I said when the RBNZ raised rates last year I said it was a mistake, but they were between a rock & a hard place due to the Auckland property market & immigration. Well they have targeted the Auckland property market recently, not sure what impact it will have, but some & now they can have policy that is dictated by the whole country's position rather than just one out of control property market.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
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11-06-2015, 01:43 PM
#345
Good for this exporter sector worker.and the spine of NZ's economy ....sub 90c NZD/AUD fine by me ....the idea of higher rates has and will continue to be a pipedream..of the media and those that believe high NZD = great times !
Just because the flood of foreign money & people into the likes of the Auckland Property market shouldn't be the main driver of RBNZ policy
but of the immigration office ...having money shouldn't equal easy entry into NZ and it's property market....must be a stand down period IMHO maybe new builds only or rent first 5yrs to foreigners
rant over
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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11-06-2015, 02:09 PM
#346
Originally Posted by snapiti
aussie unemployment rate just came in...they added 4 x as many jobs as predicted....unemployment rate down to 6%.....cross rate getting smashed.
Thanks for that Snaps. I wondered earlier if it was going to breach .91 and then saw it at .9039 and wondered what had happened. Still same on US cross so assumed it was Australian influenced. That is a double whammy. Not that I am complaining... topped up on Aussie stocks around time of the "parity" talks.
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11-06-2015, 03:16 PM
#347
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
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11-06-2015, 06:13 PM
#348
Originally Posted by Daytr
Well its been my view for a while & in fact I said when the RBNZ raised rates last year I said it was a mistake, but they were between a rock & a hard place due to the Auckland property market & immigration. Well they have targeted the Auckland property market recently, not sure what impact it will have, but some & now they can have policy that is dictated by the whole country's position rather than just one out of control property market.
And savers, once again, come to the rescue of over-committed dairy farmers and Auckland property owners!
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12-06-2015, 08:42 AM
#349
Snaps, obviously the economy is rooted and needs a decent boost. I see some bank commentators now touting cuts in July and September, all the way to 2.75%
Looks like NZD to fall even further. You hanging in there for the ride?
Next shock (noise) is GDP number out soon. Lower than expected they say making that bet even better.
That how you playing it?
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12-06-2015, 08:17 PM
#350
Originally Posted by snapiti
yep on a slippery slope from here.
Jeez I had a end of year target of 70 USD(mentioned that on the NZR thread a while back)
Currency traders\speculators won't like the kiwi now as we always get more than one cut......lets face it they are the ones that drive the currency up or down
I did take out a hedge long the kiwi AUD but only to protect profits on a AUD short term deposit I want to bring home in a month......very very happy with 1.1050
Bring it on sub 70c Vs USD 85c Vs AUD ....negative will lose some buying power.... fuel will increase ...New TV's, Autos etc and other luxuries will increase ....boo hoo >>
But much brighter for many hard working kiwis
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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