The Monetary Policy Committee agreed to maintain the
current stimulatory level of monetary settings in order to
meet its consumer price inflation and employment objectives.
The Committee will keep the Official Cash Rate (OCR) at 0.25
percent, and the Large Scale Asset Purchase and Funding for
Lending programmes unchanged.
The global economic
outlook has continued to improve since the February
Monetary Policy Statement. Ongoing fiscal and
monetary stimulus are continuing to underpin the global
recovery in economic activity. However, economic uncertainty
remains elevated and divergences in economic growth both
within and between countries are significant. New
Zealand’s commodity export prices continue to benefit from
Monetary Stimulus Continued
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Business Scoop » Monetary Stimulus Continued
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Conveyancing quotes double after Budget: Reallymoving
By Roger Baird 6
th April 2021 3:02 pm
Demand from homebuyers for conveyancing quotes more than doubled by the end of March, according to data from comparison site Reallymoving.
The surge was prompted by chancellor Rishi Sunak’s 3 March Budget, which confirmed that the stamp duty holiday would be extended and announced the introduction of a £3.9bn government guarantee scheme for higher value loans, said the free quotes site.
Conveyancing quote volumes began to rise around the day of the Budget rising to 51 per cent higher by mid-March, and jumping to 101 per cent higher by 30 March, compared to a four-year average.
XE Market Analysis: Europe - Mar 15, 2021
The dollar retained an underlying bid, with U.S. Treasury yields remaining buoyant, near Friday s highs. The DXY dollar index lifted to a high at 91.87, gaining on Friday s closing level but so far remaining shy of Friday s high. The 10-year T-note yield settled around 1.620-1.630%, just below the 13-month month highs seen at the end of last week. The theme of rising yields with a concomitant rising dollar is likely to continue into the FOMC meeting and Wednesday s monetary policy announcement. With the U.S. economy having recovered much quicker than assumed even before the gargantuan fiscal stimulus spending spree began, the Fed will be obliged to make another round of sizeable upward revisions to GDP and inflation projections, as already seen in September and December last year, alongside another downward revision to unemployment forecasts. The Fed will no doubt still repeat that there is a long way to go to restore the labour market to pr