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  • #91
    Hi Guys

    What worries me more is the continual increase in petrol prices.

    Up to $1.18.9/l lastnight .

    What with the double wammy of increased crude cost and the lower NZ dollar I still can see petrol near $1.50/l by year's end.

    Regards
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

    Comment


    • #92
      Hi Gatekeeper

      This was also in this morning's NZ Herald and what is happening in Australia appears to be the exact opposite to what is happening in NZ.

      What was said earlier.....Where Aust goes NZ goes. I wonder?

      Rates steady as Australian inflation figures drop

      29.07.2004
      By VICTORIA BATCHELOR
      Australia's inflation rate slowed in the second quarter on lower food and electronics prices, reinforcing expectations the central bank will leave interest rates unchanged for an eighth month.

      The consumer price index rose 0.5 per cent from the first quarter, when it climbed 0.9 per cent, the Australian Bureau of Statistics said in Sydney. Prices increased 2.5 per cent from a year earlier.

      The Reserve Bank of Australia's board will probably leave the cash rate target at 5.25 per cent next week as the annual inflation rate is within their target range of 2 per cent and 3 per cent.

      Rising retail sales, employment and exports may prompt the bank to raise rates by early next year as economic growth accelerates, according to economists surveyed by Bloomberg News.

      "The Reserve Bank can afford to keep rates unchanged as inflation remains in check in the Australian economy," said Brian Redican, senior economist at Macquarie Bank, the nation's largest investment bank.

      The quarterly increase was less than the 0.6 per cent gain forecast in a Bloomberg News survey of 22 economists.

      A measure of Australia's core inflation, market prices excluding volatile items, increased 0.4 per cent in the second quarter for an annual gain of 1.2 per cent.

      Economists had forecast a 0.5 per cent quarterly increase in this measure, which excludes items such as petrol, education, health and fruit and vegetables.

      Fuelling the quarterly increase in the consumer price index, petrol rose 5.8 per cent and health-care costs gained 3.1 per cent.

      Prices of food declined 0.9 per cent and electronics, such as televisions, stereos and computers, dropped 5.2 per cent.

      Companies such as Simplot Australia, which sells 60 per cent of its food products in stores and supermarkets across the country, say competition is keeping a lid on prices.

      "With tough competition keeping prices contained, there is no threat of inflation going above the Reserve Bank's inflation target range," said Terry O'Brien, managing director of Simplot. "I don't see any reason for a rate change at the moment."

      An easing of the worst drought in 100 years had increased food supplies. Motor vehicle prices declined 2.9 per cent in the second quarter from a year earlier, the CPI report showed.
      Regards
      "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

      Comment


      • #93
        Our rate was just raised to 6% this morning.

        Comment


        • #94
          Originally posted by muppet
          Hi Gatekeeper

          This was also in this morning's NZ Herald and what is happening in Australia appears to be the exact opposite to what is happening in NZ.

          What was said earlier.....Where Aust goes NZ goes. I wonder?

          Rates steady as Australian inflation figures drop
          I can't see them doing much until after the elections ditto the U.S.
          They are forecasting higher inflation in 2005 for Australia - How timely!

          The longer they wait, the harder the fall.
          Find The Trend Whose Premise Is False - Then Bet Against It

          Comment


          • #95
            Hi Guys

            Westpac are first out of the blocks.

            6 mths, 1yr, 2yr, 3yr, and floating rates all up about 0.25%.
            They haven't touched 4 and 5yr rates yet.

            ASB have raised 6mths and 1yr rates.

            Regards
            "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

            Comment


            • #96
              Hi Guys

              ANZ have tinkered with their rates today.

              6mths and 3yr rates are and 1yr rates are down.

              Catch up withe latest rates on Good Returns at http://www.goodreturns.co.nz/section/200.html

              Regards
              "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

              Comment


              • #97
                Hi Guys

                The Westpac is again first out of the blocks to raise interest rates.

                Floating to 8.6%
                6mths fixed to 7.85%
                1 yr to 7.85%
                2 yr to 7.8%
                3 yr to 7.8%
                4 yr stays at 7.8% and 5 yr also stays at 7.85%

                Regards
                "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

                Comment


                • #98
                  Hi Guys

                  A flurry of activity today with ANZ interest rates. Some up and some down. But all just below Westpac's rates.

                  Regards
                  "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

                  Comment


                  • #99
                    Hi Guys

                    A flurry of activity today.

                    Bank Direct have raised 6mth, 1, 2yr fixed and floating rates.

                    BNZ have raised 6mths fixed and floating rates. (2yr fixed is now 0.4% lower than Westpacs.)

                    HSBC have raised 6mths, 1, 2, qnd 3yr fixed and floating rates.

                    Regards
                    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

                    Comment


                    • Hi Guys

                      Westpac have rumbled into action again tonight and have dropped 6mths, 1 and 2 yr fixed rates a smidgen.

                      Regards
                      "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

                      Comment


                      • Hi Guys

                        Westpac have again rumbled into action and have dropped their interest almost across the board to match the others tonight.

                        I wonder for how long.

                        I have also noticed that bond rates in the US have dropped and that is what fixed interest rates are matched against, not the OCR.

                        Regards
                        "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

                        Comment


                        • Hi Guys

                          ANZ have fiddled with their 2yr fixed rates. Now down to between 7.2% and 7% depending on the size of the loan.

                          Regards
                          "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

                          Comment


                          • The commentary on the following site appears to sum things up nicely.
                            www.interest.co.nz/comment.html

                            Comment


                            • Hi Guys

                              Minor tinkering this week.

                              Westpac have put Floating rates up to 8.8%. They have dropped their 2yr fixed rates to between 7.4% and 7.2%.

                              ASB have also put up floating rates.

                              refer to
                              http://www.goodreturns.co.nz/section/200.html

                              Regards
                              "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

                              Comment


                              • Hi Guys

                                Some movement on interest rates this week.

                                ANZ, BNZ, Westpac and NAB all raised floating rates with Westpac leading the bunch with 8.8%.

                                However the big news is that the ASB has dropped its 1yr and 2yr fixed rates to 6.95%.

                                Regards
                                "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

                                Comment

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