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The Official Cash Rate (OCR) increases to 7.50%
Thursday 8th of March 2007
Strengthening domestic demand is being supported by a resurgence in the housing market and an expansionary fiscal policy. The acceleration in housing reflects firming net immigration, a recovery in confidence, a continuing rapid expansion of mortgage credit at very low margins, and strong growth in household incomes. The recent lift in export commodity prices – particularly dairy – may also...
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