OCR And Mortgage Rates In Plain English
OCR. Three letters that can make New Zealand homeowners panic, argue, and refix too fast. We slow it all down and explain why the Reserve Bank is widely expected to leave the Official Cash Rate unchanged at the next review even while inflation fears flare up again. The key point is simple: if oil prices are the main driver, pushing the OCR higher won’t magically make petrol cheaper. It can, however, squeeze households and stall the economy, which is why a “wait and see” approach can be rational.
Then we get into what you’re actually seeing in the market: banks shifting fixed mortgage rates…
The skinny
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