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Old Mortgage News

Bollard delivers early Christmas present to the housing market

Thursday 26th of October 2006
Reserve Bank governor Alan Bollard opted to hold interest rates steady, prompting a sharp fall in wholesale interest rates and the New Zealand dollar.

"He's given a Christmas present to the housing market," says Westpac chief economist Brendan O'Donovan. "Today's statement will see fixed rate mortgages down significantly."

A slim majority of economists had expected Bollard to raise the...

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