I haven't red that one but have been reading a lot of them recently.
I'm actually quite impressed by what Orr is saying today, and I comment that I am increasingly unimpressed with how niggardly Reddell is in his criticisms. A real croaker as he calls himself. I think he must have a bee in his bonnet about something..... Very knowledgeable and thorough though.
Will NZ banks pass on all the rate cuts ?? and will kiwis get over the FEAR of CORVID19 and continue to buy and build new properties (really the heart of NZ growth over the last many years =Consumer spending)
I expect that they will with regard to overdrafts and floating rate loans. Fixed rate loans are another matter though, being financed by fixed rate funding. We'll see.
One of the most influential / powerful people in the country and we can’t even vote him out.
I red (from BusinessDesk) that he got all testy with the journalists when they kept pressing for his view on whether there would be a recession - and then eventually conceded it was likely.
I expect that they will with regard to overdrafts and floating rate loans. Fixed rate loans are another matter though, being financed by fixed rate funding. We'll see.
Yes I see floating down at 4.4% currently but of course fixed rates haven't changed 1yr out etc ?
"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
Yes I see floating down at 4.4% currently but of course fixed rates haven't changed 1yr out etc ?
Nobody has blinked yet , it usually takes a day or 2 . It would probably be prudent to wait until they see what the Govt is rolling out .
Obviously if RBNZ start purchasing bonds that would lead to some decent drops in the fixed rates .
I red (from BusinessDesk) that he got all testy with the journalists when they kept pressing for his view on whether there would be a recession - and then eventually conceded it was likely.
Of course there will be a recession, and of course Orr has to try not to predict it. Any financial journalist will know that, and if they need Orr to confirm what they know, they should switch to writing the gardening column. The big question is will it be worse than a recession?
Will NZ banks pass on all the rate cuts ?? and will kiwis get over the FEAR of CORVID19 and continue to buy and build new properties (really the heart of NZ growth over the last many years =Consumer spending)
ANZ the first major bank to blink, 1 year down to 3.05 % , 2 year 3.35 %
Originally Posted by JBmurc
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