"Largely expected": Fixed rates unlikely to rise in wake of OCR hike
Follow
the podcast on
Banks aren't expected to increase fixed rates after the latest OCR hike.
The Reserve Bank raised the Official Cash Rate another 25 basis points yesterday, bringing it to 2.75%.
Governor Anna Breman says they are moving it towards a neutral level of around 3%.
Co-operative Bank CEO Mark Wilkshire told Ryan Bridge the hike was largely expected, so those rates were already built in.
He says the increase will be passed through to variable home loans quite quickly, but they're not expecting to see fixed rates rise.
LISTEN ABOVE
Take your Radio, Podcasts and Music with you
Get the iHeart App
Get more of the radio, music and podcasts you love with the FREE iHeart app. Scan the QR code to download now.
Download from the app stores
Stream unlimited music, thousands of radio stations and podcasts all in one app. iHeart is easy to use and all FREE
