Mortgage News

Floating rates that don't sink

Wednesday 10th of December 2008
Bollard cut his official cash rate (OCR) from 8.00% to 7.50% in September, to 6.50% in late October and to 5% earlier this month.

On Wednesday, he told a Wellington business audience banks shouldn’t be looking to maintain high profit margins, noting they have failed to cut their short- term lending rates by as much has he had cut the OCR.

Perpetual Trust, a subsidiary of Pyne Gould Corpo...

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