DOLLAR MAY BE CAPPED, TAX DOWN… WILL BANKS NOW FREE UP RURAL LENDING
Posted on June 2, 2010 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
In a major move, the Reserve Bank has signaled it will consider capping the NZ dollar against the USA dollar at 70cents, bringing, at last, a security of income for exporters, especially the rural sector.
This, when read alongside the extra income from lowered tax, might well see banks prepared to free up the presently exceptionally tight rein on rural lending. For a considerable time now we have seen almost every private buyer’s proposal to all banks turned down. Watch this space!
And if you are involved in rural New Zealand, look out for First National’s Fieldays stand at Mystery Creek, Hamilton from Wednesday 16th to Saturday 19th June at our new site F69.
Filed under: REAL ESTATE | Tagged: Real Estate