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Old Mortgage News

Dollar, rates jump after Bollard leaves rates unchanged

Thursday 11th of June 2009

Bollard left his official cash rate (OCR) unchanged at 2.5%, the first time he has reviewed it and left it unchanged since July last year when the OCR stood at 8.25%.

Wholesale interest rates were up about 10 basis points across the board half an hour after the statement while the currency jumped about half a US cent, effectively tightening monetary conditions.

Nick Tuffley, chief...

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