
Mortgage News
Bollard likely to slash rates later this month
Thursday 2nd of October 2008
All eight economists surveyed by Good Returns expect Bollard to cut his official cash rate (OCR) from 7.5% to 7% when he reviews it on October 23. On September 11, Bollard surprised the market by cutting the OCR 50 basis points from 8% when most had expected a 25 point cut, citing a marked slowdown in household spending and a deteriorating global economy.
Jason Wong, an econom...
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