Kiwis Get a 0.5% Rate Cut; As Economy Stalls And Home Prices Fall!

Dr Michael Rehm, a senior lecturer in property at the University of Auckland was quoted in the Guardian recently as saying “Buyers and sellers are starting to get the impression that house prices in New Zealand do not always go up. We’re finally breaking down that long-held belief.” Which begs the question, will the latest rate cut, announced this week change the tune? As on Wednesday New Zealand’s Monetary Policy Committee reached consensus to reduce the OCR by 50 basis points to 2.5 percent and they said they remain open to further reductions in the OCR as required for inflation […]