Mortgage News

No hurry to fix after OCR announcement

Thursday 9th of December 2010

Bollard left his official cash rate (OCR) unchanged at 3% and said while it is likely to rise modestly over the next two years, he won't be moving it "until the recovery becomes more robust and underlying inflationary pressures show more obvious signs of increasing."

Bollard specifically referred to weak household spending, weakening housing market activity and the prospect house prices...

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