Mortgage News

Bollard to cut rates again: economists debate the magnitude

Monday 23rd of February 2009

In late January, Bollard cut his official cash rate (OCR) from 5% to 3.5%, saying the global economy is now in recession. He has progressively cut the OCR from 8.25% since July last year.

Of the 11 economists Good Returns surveyed, four are now expecting a 50 basis point cut, three a 75 point cut and four a 100 point cut to 2.5%.

Deutsche Bank economist Darren Gibbs says a...

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