Economy

New Zealand’s Reserve Bank has decided to hold its cash rate once again.

As the Reserve Bank’s decision to halt the cash rate was influenced by favourable inflation data, economists widely anticipate the bank will hold in September.

The aggregator has revealed the impact the current economic environment has had on mortgagors and prospective buyers through a recent survey.

Among the “big four” banks, ANZ is the only bank still offering a cashback deal to refinancers.

RBA governor Philip Lowe noted that while the peak of the fixed-rate cliff had surpassed, one million borrowers are yet to transition.

Economist Alan Oster has warned of an upcoming spike in third-quarter CPI, raising the prospect of additional interest rate hikes in the near future.

Despite the RBA placing the cash rate on hold, consumer sentiment dropped with potential dwelling purchase confidence falling even further.

Green loans could play an integral part in the green transition, acting RBA head of domestic markets has said.

The Reserve Bank has lifted its projection for the amount of disposable income that will need to be dedicated to scheduled mortgage repayments.

The big four banks have adjusted their cash rate forecasts on the heels of interest rates being held steady in August.