Reserve Bank moves off ultra-low OCR
8.7.26 The Reserve Bank lifted the Official Cash Rate (OCR) 25bp to 2.50% today. The the decision was reached by consensus among the members of the Monetary Policy Committee. Banking economists had been at variance leading up the decision. The BNZ commented at the start of the day "The RBNZ is widely expected to begin its tightening cycle today with a 25bp OCR increase to 2.50%, although a small minority of economists expect no change. Assuming the Bank delivers, the accompanying messaging...
ANZ lean towards OCR increase
1.7.26 ANZ Bank expect the RBNZ to raise the Official Cash Rate (OCR) 25bp to 2.50% next Wednesday. “In uncertain times, it’s all about risk management, “said chief economist Sharon Zollner. “With the OCR still 75bp below the RBNZ’s central estimate of neutral, growth conditions supportive, the NZD much softer than assumed, and inflation set to sit above the band for a period, it’s sensible to get a hike under the belt, despite the sharp fall in oil price.”
Oceania considers bond offer
Oceania Healthcare Ltd is considering making a secured fixed rate bond offer of 6 year fixed rate, secured, unsubordinated bonds (Bonds) to institutional investors and New Zealand retail investors. Full details of the bond offer will be released upon the offer opening, which is expected to be in the week commencing 22.6.26. Oceania has appointed ANZ Bank New Zealand as Arranger, and Bank of New Zealand, Craigs Investment Partners and Forsyth Barr, together with ANZ, as Joint Lead Managers in...
Ryman making $100m+ bond offer
8.6.26 Ryman Healthcare is offering up to NZ$100m (with the ability to accept up to an additional NZ$50m of oversubscriptions at Ryman’s discretion) of 6 year fixed rate, secured, unsubordinated bonds maturing on 22.6.32 to institutional investors and New Zealand retail investors. The offer opens today and is expected to close on 11.6.26, with the bonds expected to be issued on 22.6.26 (Issue Date). The indicative issue margin range is 1.80% to 1.90% per annum over the swap rate, subject to a...
Ryman considers bond offer
3.6.26 Ryman Healthcare is considering an offer of 6 year fixed rate, secured, unsubordinated bonds (Bonds) to institutional investors and New Zealand retail investors. The Bonds will be unsubordinated obligations of Ryman, and will have the benefit of a guarantee and security package provided by the Ryman guaranteeing group. It is expected that full details of the Offer will be released in the week beginning 8 June 2026 when the Offer is expected to open. If the Offer is made and the...
No change in Official Cash Rate
27.5.26 Recognition that financial conditions in New Zealand have tightened – and that long-term inflation expectations remain around 2% - were factors in the Reserve Bank’s Monetary Policy Committee today voting to hold the OCR at 2.25% Annual consumer price inflation was 3.1% in the March quarter. The Middle East conflict is increasing near-term inflation and weakening economic activity. Inflation is expected to peak at 4.3% in the September quarter and to return to the 2% target...
Oil rises and NZ dollar ebbs
27.3.26 Oil prices, the US dollar, and bond yields all rose amid market scepticism that a de-escalation in the Iran war was likely soon, reports Westpac this morning. Currencies: “The US dollar index is up 0.3% on the day. EUR fell from 1.1570 to 1.1523. USD/JPY rose from 159.40 to 159.79. AUD fell from 0.6957 to 0.6885 – lowest since late January,” says Imre Speizer, New Zealand market strategist. “NZD fell from 0.5808 to 0.5757 – lowest since mid-January. AUD/NZD round tripped from 1.1965 to...
RBNZ vigilant on Inflation spike risk
26.3.26 The Reserve Bank of New Zealand (RBNZ) is well positioned to handle the challenges to price stability and financial stability mandates caused by the ongoing conflict in the Middle East, Governor Anna Breman said in a speech this week aimed at calming market nerves. “We are likely to see higher headline inflation over the near term, and somewhat weaker growth momentum,” Governor Breman says. In the speech, Global shockwaves to Kiwi shores: The impact of the Iran conflict on New...
Potential bond offer by Property for Industry
26.3.26 Details of Property for industry’s proposed bond offer – which was popstpo9ned earlier this month given uncertain markets conditions – are now expected to be announced in the week beginning 30 March 2026, when the offer is anticipated to open. On 24 February 2026, Property for Industry announced it was considering an offer of 6.5 year senior secured fixed rate bonds (Bonds) to New Zealand retail and institutional investors and Australian institutional investors. If PFI proceeds with...
Mercury opens Green Bonds offer
23.3.26 Mercury NZ is offering up to $200 million (with the ability to accept up to an additional $50 million in oversubscriptions at Mercury’s discretion) of 7 year unsecured, unsubordinated, fixed rate green bonds (Green Bonds) to institutional investors and New Zealand retail investors. The offer is expected to close on 25 March 2026, with the Green Bonds expected to be issued on 1 April 2026. The interest rate for the Green Bonds will be set on the rate set date as being equal to the sum...
