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From : ofInterestNZ
Added: Dec 18, 2008
Panel 1 Big interest rate moves Some fell very fast Others not at all Positive yield curve Change in yield curve January 13, 2008 Panel 2 2008 starts high OCR at 8.25% 2 year fixed at 9.3% 6mth fixed at 9.6% Variable rate at 10.3% Credit card rate at 19.5% January 13, 2008 Panel 3 Credit crunch kicked in Foreign funds expensive Rates rose by March Variable 10.6% Credit Card 20.2% January 13, 2008 Panel 4 First OCR cut July 25 Then 50 in September Then 100 in October Then 150 in December January 13, 2008 Panel 5 But not all retail rates fell OCR fell 325 basis points But credit cards unchanged Variable mortgages Fell by 275 basis points January 13, 2008 Panel 6 6 month fell 300 bps Business held at 13.6% Bank margins squeezed 230 to 215 High overseas funding High deposit costs January 13, 2008 Panel 7 Positive yield curve Borrowers to go short OCR to 4% by mid 09 Variable under 7% 2 yr fixed over 7% January 13, 2008
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