Page 6 - Blending Programme News Today

Analysis - The central bank will likely hold its official cash rate steady, and leave other key policies unchanged, Business Editor Gyles Beckford writes.

Game-changer: Bank announces sub 2 percent mortgage rate for new-builds Newshub 2 hrs ago © Image - Getty Images; Video - Newshub Related video: It follows months of increasingly lower interest rates. Longer-term fixed interest rates are starting to move up, but for some borrowers the bar on floating interest rates has moved lower. To support building more homes to boost New Zealands housing supply, ASB Bank has announced a floating (variable) mortgage interest rate of 1.79 percent for new...

Unlike a fixed interest rate, the new build floating rate (currently 1.79 percent) changes according to market conditions. ASB said the rate is linked to the Reserve Bank Funding for Lending Programme, a pool of funds available at the Official Cash Rate for banks to lend.  The bank said theres confidence these funds will stay low for the foreseeable future. "If the Reserve Bank did change the discounted FLP rate then that would trigger us to look at the ASB Back My Build variable rate, but ou...

Another major retail bank has seen its profits surge driven by the strong economic rebound from Covid-19 and lack of bad debts. BNZ chief executive Angie Mentis says the strength of the economic rebound was key to the profit improvement (File image). Photo: RNZ / DOM THOMAS The Bank of New Zealands (BNZ) half-year cash profit rose to $660 million from $367m the year before. Leaving aside one-off items, the net profit was up by a more modest 13 percent to $563m. The bank, owned by Australias NA...

5/4/2021 9:09:25 AM GMT The central banks are listed below with their current state of play. The link for each central bank is included in the title of the bank and the next scheduled meeting is in the title too. Reserve Bank of Australia, Governor Phillip Lowe, 0.10%, Meets 05 May Falling behind the curve? Once again, there were no surprises at the last RBA rate decision earlier this month. The Cash rate and the 3-year yield target were both kept at 0.10%. The level of bond purchases was uncha...

RBNZ: A touch more optimistic. Fri 16 Apr 2021 06:17:54 GMT The RBNZ meeting was pretty uneventful. The interest rate was kept at 0.25% and the Large Scale Asset Purchase (LSAP, $100 billion by June 2022) and Funding for Lending Programme (FLP) was kept unchanged. Here is a brief rundown of the meeting which was essentially on hold, with a tiny hint of optimism. The good The RBNZ recognised the following positive factors for New Zealand Global growth outlook has improved with commitment to mone...

The Reserve Bank of New Zealand (RBNZ) also retained its large-scale asset purchase (LSAP) programme at NZ$100bil (US$70.55bil or RM291.29bil). WELLINGTON: New Zealand’s central bank held its official cash rate (OCR) at 0.25% in a widely expected move yesterday, saying it needs to observe the economic impact of new housing market measures and the return of some international tourists. The Reserve Bank of New Zealand (RBNZ) also retained its large-scale asset purchase (LSAP) programme at NZ$10...

The Monetary Policy Committee agreed to maintain the current stimulatory level of monetary settings in order to meet its consumer price inflation and employment objectives. The Committee will keep the Official Cash Rate (OCR) at 0.25 percent, and the Large Scale Asset Purchase and Funding for Lending programmes unchanged. The global economic outlook has continued to improve since the February Monetary Policy Statement. Ongoing fiscal and monetary stimulus are continuing to underpin the global r...

WELLINGTON — New Zealand’s central bank held its official cash rate (OCR) at 0.25% in a widely expected move on Wednesday, saying it needs to observe the…

* QE, funding for lending maintained * RBNZ says impact of new housing rules to be observed (Adds details, analyst comment) WELLINGTON, April 14 (Reuters) - New Zealand’s central bank left all its current policy settings unchanged on Wednesday, saying monetary stimulus should continue to ensure its inflation and employment targets are met. The Reserve Bank of New Zealand (RBNZ) also said it needed time to observe the impact of new housing market measures and a gradual revival in tourism on it...