Mortgage News

Bollard keeps OCR steady but flags further cuts

Thursday 30th of July 2009

Bollard reiterated that he expects to keep his official cash rate "at or below the current level through until the latter part of 2010."

His comments sent the currency sliding three-quarters of a US cent to 65 cents while wholesale interest rates sank between five and 10 basis points. His OCR remains unchanged at 2.5%.

"The big concern is the New Zealand dollar," says Nick Tuffley...

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