BNZ out alone
Friday, November 12th 2010, 9:19AM
BNZ's little interest rate move yesterday has not, yet, attracted any bites from its competitors. Often banks won't make rate change moves until the end of the week so we may have some changes this afternoon.
One thing which did emerge yesterday is more evidence - if we needed it - that the housing market is still very sluggish. One way of getting some steam into the market will come from banks being more competitive on rates and easing lending criteria. There are early signs slight improvements are happening here. The question is whether they will trigger any more life, or put a spring, back into the market.
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