
Mortgage News
Bollard not quite ready to cut rates, economists say
Monday 2nd of June 2008
The last time Bollard moved his official cash rate (OCR) was in July last year when he raised it to 8.25%.A survey by Bloomberg News last week found 13 of 14 economists now expect Bollard to cut rates this year and 10 of them expect the cut by September 30.
The one hold-out is Westpac and chief economist Brendan O'Donovan doesn't expect a rate cut any earlier than March 2009.
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