Category Archives: Banking

Reserve Bank exempts lending for new construction

  “The Reserve Bank has recently consulted with the building industry and banks on the impact of LVR restrictions on residential construction activity,” Mr Spencer said. “While high LVR construction lending is only around 1 percent of total residential lending, it finances around 12 percent of residential building activity. “This exemption means that low deposit [...]

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Reserve Bank leaves rates unchanged

NEW Zealand’s central bank left the official cash rate unchanged at 2.5 per cent today, saying the economic outlook was improving but only at a modest pace. Inflation was of less concern to Govenor Allan Bollard despite it being outside the 3% target band. In his statement Bollard said “September quarter inflation data suggest that, [...]

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Reserve Bank Leaves OCR Unchanged

Good news for homeowners today when The Reserve Bank left the Official Cash Rate (OCR) unchanged at 2.5 percent. Homeowners and those entering the market could take confidence from the Reserve Bank Governor Alan Bollard’s statement that: “The outlook for the New Zealand economy has improved since the publication of the March Statement.” He went [...]

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