Mortgage News

Reserve Bank raises rates and signals more to come

Thursday 9th of September 2004
As expected, Reserve Bank governor Alan Bollard has raised interest rates for the fifth time this year and is promising more to come is likely.

He raised the official cash rate (OCR) from 6% to 6.25%, citing the surprising strength of the economy, stretched resources and strong inflation pressures.

Nobody was surprised at the move itself, least of all Bank of New Zealand...

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