Mark Wilkshire: Co-Operative Bank CEO on inflation, signals fixed mortgage rate hikes coming ‘pretty soon’
Fixed mortgage rates could be heading up “pretty soon”, says a New Zealand bank boss as wholesale interest rates rise on the back of volatility in the Middle East.
Speaking on Early Edition with Ryan Bridge, Co-operative Bank chief executive Mark Wilkshire said wholesale rates were up about 30 basis points (bps) in the past couple of weeks.
“I think banks will have to start passing that on.
“Even though the Official Cash Rate [OCR] was priced in, those wholesale markets have lifted. I expect this to be upward pressure on retail mortgage rates.”
Wilkshire said…
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