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  • Profile photo of muppetmuppet
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    @muppet
    Join Date: 2003
    Post Count: 900
    September 6, 2003 - 8:33 am

    Hi Guys

    There was a flurry of activity late yesterday as a number of Financial Instutions increased their fixed term interest rates.

    None of the big banks(mostly Australian owned) have done so yet.

    The NZ Reserve Bank held the Official Cash Rate at 5%. This is about the highest of any of the OECD countries.
    There is some thought that there will be no more cuts but a possibility of rate rises next year.

    Regards

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