New Zealand OCR tagged posts
January 27, 2012 New Zealand Finance
The Official Cash Rate of New Zealand will remain unchanged, as national and international economic conditions do not yet justify an increase.
On January 26th the Governor of the Reserve Bank Alan Bollard announced that the Official Cash Rate (OCR) of New Zealand will be maintained at 2.5 percent.
Allan Bollard explained that since December, financial stability around the world has seen a slight improvement, but was still too fragile to justify raising the OCR. He added that given the moderate pace of the international market and the subdued domestic consumer demand levels, it remains prudent to maintain the OCR at the currently low level.
While detailing the national economic situation, the Governor noted that the New Zealand economy has seen some pick up over the last few months, and in...Read More
The Australian Official Cash Rate (OCR) has been cut to 3% on the 7th of April, although it was preceded with less certainty than in previous times.
Even while according to a Reuters poll of 21 economists only 13 thought that an OCR decrease was likely, it has been cut by 25 basis points to 3%. According to a Reserve Bank of Australia media statement, the Australian economy is shrinking (albeit not as fast as some of its trading partners), as such the newest cut is warranted.
Similar action is looking increasingly likely after the same day publication of the Quarterly Survey of Business Opinion (QSBO) by the New Zealand Institute of Economic Research (NZIER)...Read More