Nz Interest Rates Forecast 2024. The reserve bank of new zealand (rbnz) announces its interest rate decision after its seven scheduled annual policy meetings. Our chief economist paul conway explains how the ocr influences inflation and interest rates.
If this happens, mortgage interest rates may follow a broadly similar trend, falling by 2.0 to 2.5% in the next two years. This is currently offered by 3 banks.
We think interest rates will continue declining gradually to 5.50% by march 2026, and to 5% by march 2027, eventually landing around 4.5% in 2028.
After a tough few years, chief economist jarrod kerr predicts that the outlook for the housing market this year is more positive.
Bnz’s research team believes the ocr will be on its way to 4.75% by then and subsequently drop to 4% next summer.
6.99% for 1 year | 6.85% for 2 years.
