Mortgage News

Weak data, global turmoil put paid to floating rates rising this year

Thursday 22nd of September 2011

The economy grew just 0.1% in the June quarter compared with market expectations of 0.5% and the Reserve Bank's latest published forecast of 0.6%.

"The market's completely priced out any tightening (in interest rates) this year - there wasn't much in there anyway," says Darren Gibbs, an economist at Deutsche Bank.

Gibbs is still forecasting Reserve Bank governor Alan Bollard will...

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