The OCR got a 0.25% trim this morning to 3.25% in an attempt to give inflation, which is near enough at zero, a nudge along and to give the NZ$ a helping hand downwards. The Reserve Bank included a bias towards further cuts going forward.
$154,000 secured a 2 bedroom in the Columbia building yesterday. Located in Grafton the fully managed student accommodation, not reknowned for its investment return, provides for net annual rental income of $6,000. Purchased sight unseen evidently.