Interest Rates

[chook]

So, have any of the banks given a discount on a current fixed rate? or is it only Floating?

[Maccachic]

Westpac wouldn't without me paying the break fee, am look at options now.

[Austrokiwi]

I see that UK and Mainland European banks have had credit down grades. Will NZ banks be next in line?

[muppet]

Australian banks you mean Austro.

[Austrokiwi]

Australian banks you mean Austro.

Opps yep your right Muppet

[JABlog]

""The turnaround comes after government figures showed the economy grew 1.1 percent in the first three months of the year, its fastest quarterly pace in five years".

Will this end any chance of a further rate cut and ultimately our lower rates.

[speights boy]

^ Hopefully.

[Austrokiwi]

""The turnaround comes after government figures showed the economy grew 1.1 percent in the first three months of the year, its fastest quarterly pace in five years".

Will this end any chance of a further rate cut and ultimately our lower rates.

Fastest quarterly pace in Five years! I recall an old add for a Citroen Duck One line went: going flat out at 60 MPH ( down hill with a back wind) the Citroen 2CV easily overtakes a Porche 911 traveling at 50 mph. the last five years have seen ( for the main part) sluggish stuttering growth. More important than a single data point is the overall trend I don't think the Reserve bank is going to raise interest rates until they are confident they need to cool growth and that is along long long way away.

[eri]

light entertainment

[halfempty]

What's best floating rate anyone has got out of Westpac?

I was offered 5.74% but I think they can do better.

[drelly]

I'm on 5.49% with Westpac.

[halfempty]

That's a nice rate drelly, looks like I'm going back in to do some more bashing

[Wayne]

5.24% with Westpac as posted earlier.

[buxlo122]

5.25% from asb

[Ivan McIntosh]

""The turnaround comes after government figures showed the economy grew 1.1 percent in the first three months of the year, its fastest quarterly pace in five years".

Will this end any chance of a further rate cut and ultimately our lower rates.

I don't think so. I think the growth has come to a crashing halt, and there will easy be enough pain coming out of Europe to keep us on a low OCR for a while longer yet...