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| Thread ID: 97792 | 2009-02-28 00:15:00 | NZ Interest Rate Trend | learning (5137) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 751954 | 2009-03-03 04:03:00 | The OCR will drop on March 12. I estimate between 0.75% - 1.00% I'm not sure if it is a good idea to lock in money at 3%. Taking inflation into account, you'll be getting little to no return. I'm assuming you have 0 debt? If you do, its better to pay that down first than get a measly 3% *I'm not a financial advisor and this post doesn't take into account your personal circumstances. |
utopian201 (6245) | ||
| 751955 | 2009-03-06 02:37:00 | utopian thanks i saw the news on pissible big cut coming of 1% and over the course of year OCR very likely will reach 2%. I think if we were to go down 1 - 1.5% either in one full swoop or gradually over next few months then i reckon it will be more then 1 - 1.5 years before it starts climbing back up or surpasses 3.5% which is the current OCR. i dont really have any personal Debt. In fact the NZ dollar has plummeted to virtually 50 cents to a US Dollar or else i would have taken all funds out of NZ. Over here in US you get virtually 1 % interest rate as the Federal cash Rate is 0.5% and the way the stock market is going i m reluctant to go in stocks for now with the funds in NZ which will suffer a major loss due to currency rate situation Hence i have gone with 2 yr term with NZ Bank and got a fairly good rate. When u have large principal amount to invest little rate changes does matter so i was luking at the rate trend carefully before deciding |
learning (5137) | ||
| 751956 | 2009-03-06 04:02:00 | hhmm, i personally feel in 2 years time, things would have picked up. What seems fairly good now could possibly seem piddly by then. But hey it goes both ways; a few months ago, mortgage rates were had dropped to 7% and everyone said WOW!, they used to be 9-10%! Lets lock it in for 2 years! and are now kicking themselves :p |
utopian201 (6245) | ||
| 751957 | 2009-03-06 18:20:00 | u are right . . . i thght abt that n came to conclusion that if rates drop next week then it will probably go thru another cut (albeit a small one )one more time after that, before RBNZ lets it sit there for some time and evaluate the economy response . I think it will remain unchanged (might go lower but not higher) thru out end of this year and then bounce back up begining 2010 but in small increments n be at current levels by third quarter of next year . I was gonna for 18 months based on my above calculations but then the 2 yr seemed really good deal . Plus penalty for breaking term deposit is not too bad though . Oh well if i am wrong, hopefully i wont miss out by much and kick myself too hard lolzzzzz |
learning (5137) | ||
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